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The Daily Brief

Today’s top stories: - Panama approves new SWF. - India’s Ferilizer Ministry still trying to get a SWF of its own. – New rules governing Chinese pension funds could be a boon for the world’s asset managers.

Here now, the news:

  • Panama has approved the new ‘Fondo de Ahorro de Panamá'.  It looks as though the initial capitalization of the fund will be $1.2 billion, while subsequent funds will come out of revenues from the new, wider canal. Here’s a quote from the office of the president: “National savings for future generations and economic stabilization in case of predetermined situations such as natural disasters or economic crises”
  • New rules governing China's pension funds could be a boon for asset managers: “...opening the door for the markets to receive a major infusion of new assets.”
  • India's Fertilizer Ministry scales back its request for a new SWF from 10B to 1B: Whatever the B, it's still probably not happenin'. Here’s why.

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