Sovereign wealth fund proposal back; may become holding company for assets

The fund is tentatively named 'Investment Management Company'. It may not be a listed entity and could be partly funded by the Union Budget

The Union government is holding discussions to set up a sovereign wealth fund that might be structured on the lines of funds set up by 

non-oil exporting nations such as Singapore, Vietnam, and Malaysia.

Tentatively named ‘Investment Management Company’, the sovereign wealth fund may also become a holding company for assets in all public sector undertakings, including nationalised banks, government sources, on the conditions of anonymity, said.

The ‘Investment Management Company’ may not be a listed entity and could be partly funded by the Union Budget. It may invest in various forms of assets, including private debt, private equity, infrastructure, and