UK's new SWF draws Australian pension support for clean energy
Australian and British pension funds want the UK's National Wealth Fund to focus on higher risk net-zero industries where it can play a valuable role bridging gaps in capital markets.
At the culmination of the recent International Investment Summit in the UK, the government announced the formal creation of its first sovereign wealth fund, to be called the National Wealth Fund (NWF).
The NWF will have a total of £27.8 billion ($36.3 billion) at launch, with the government bringing forward legislation to give the fund a broader mandate beyond just infrastructure.
Institutional investors, led by Australia's superannuation funds, are already supporting the initia…
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