THE AGRICULTURE industry said it is hoping to capture as much as 30% of the proposed sovereign wealth fund’s investable capital, saying that the wealth fund will draw away funding from the farm sector.
“These are our agricultural banks. I do not see in the Maharlika Investment Fund anything on the agricultural sector. I want to make it mandatory in the law that a portion of that fund should be invested in the agricultural value chain,” Mr. Fausto said. The bill lists as “allowable investments” foreign currency, metals, fixed-income instruments, domestic and foreign corporate bonds, equities, real estate, infrastructure projects, loans and guarantees, and joint ventures or co-investment projects.
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