> Indonesia launches new multi-billion-dollar sovereign wealth fund / 36YG3QE
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Indonesia launches new multi-billion-dollar sovereign wealth fund / 36YG3QE
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Indonesia has launched a new sovereign wealth fund that will aim to manage state assets worth more than $900 billion as President Prabowo Subianto looks to turbo-charge growth in Southeast Asia's biggest economy.
Prabowo signed a document at the presidential palace in Jakarta initiating the new fund known as Daya Anagata Nusantara, or Danantara, which is modelled on Singapore's investment arm Temasek and received approval this month in a parliament dominated by the president's ruling coalition. IMAGES AND SOUNDBITES