India, Feb. 4 -- President Donald Trump has signed an Executive Order calling for the creation of a Sovereign Wealth Fund.
He directed the Secretary of the Treasury and the Secretary of Commerce to deliver a plan within 90 days for the creation of the fund in consultation with the Director of the Office of Management and Budget and the Assistant to the President for Economic Policy.
The Order directs the Secretaries to include in the plan recommendations for funding mechanisms, investment strategies, fund structure, and a governance model.
The White House says the United States already holds a vast sum of highly valued assets that can be invested through a sovereign wealth fund for greater long-term wealth generation.
It is estimated th...