Canada Strong Fund departs from traditional sovereign wealth models
Prime Minister Mark Carney鈥檚 proposed Canada Strong Fund is not easily comparable to sovereign wealth models in Norway or Singapore, says Sebastien Betermier, an聽Associate聽Professor of聽Finance at 涩里番鈥檚 Desautels Faculty of Management.
Betermier says Norway鈥檚 fund is designed to invest resource revenues abroad and shield the domestic economy from oil price volatility, while Canada鈥檚 proposed fund appears focused on driving growth through domestic investment.
He adds that the plan may more closely resemble Middle Eastern funds with economic development mandates. 鈥淐anada鈥檚 fund is aimed at investing, from what I can tell, in Canada to promote economic development,鈥� he says.
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