Australia's sovereign wealth fund — established in 2006 to invest the proceeds of asset sales and budget surpluses for long-term national benefit.
Sovereign wealth fund design: the Future Fund is notable for its governance structure (independent board, explicit mandate to maximize returns for future Australians rather than current political priorities) and its investment philosophy (genuine long-term perspective, willingness to hold illiquid assets). One of the better-governed sovereign wealth funds globally. Used in discussions of how governments can accumulate and invest long-term capital separate from electoral cycle pressures.
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