Indonesia’s soon-to-be-launched sovereign wealth fund will have dedicated industry funds to attract US$15 billion of investments and deepen access to global capital, according to Reuters, quoting an interview with Finance Minister Sri Mulyani Indrawati.
She says the wealth fund, which is expected to be launched in January, will be structured to comprise various industry-based funds operating under a master fund.
Investors will be able to invest in the industry funds, holding assets such as electricity, healthcare and toll roads, as well as the master fund.
“They will have the flexibility to invest in many portfolios,” Ms. Sri Mulyani says in the interview published on November 19.
She says the sovereign wealth fund is part of plans to transform Indonesia into a top-five economy in 25 years, and that it will be managed by professionals, with a supervisory board comprising ministers. She says it’s vital for the fund to be “credible”.
Spokespersons for the Indonesian finance ministry did not immediately respond to questions from Asia Asset Management.