US president Donald Trump has signed an executive order to establish a sovereign wealth fund (SWF) in the US. The size, scope and nature of the SWF remains unlear.
US treasury secretary Scott Bessent and Howard Lutnick, the US secretary of commerce, have been tasked with submitting a plan to the president within 90 days of the date of the February 3 order. The plan will include recommendations for funding mechanisms, investment strategies, fund structure, and a governance model.
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