The thing about the new Canadian “sovereign wealth fund” (SWF) announced on Monday by Prime Minister Mark Carney is that, judging by what we know so far, it’ll be pretty much the opposite of what he’s comparing it to.
The prime minister cited Norway as a leading example of a country with a successful SWF — and so it is.
The Norwegian Government Pension Fund — Global, to use its full name, has been fantastically successful. Since it was founded in 1990 it’s grown to a staggering $2.2 trillion U.S., or just over $3 trillion Canadian.
