Canada launches C$25bn sovereign wealth fund to boost growth

canada is launching a new sovereign wealth fund worth c$25bn. mark carney, the former bank of england and bank of canada governor, announced the initiative. the fund is meant to boost economic growth as canada faces ongoing trade tensions with the us. the fund will be managed by a new arm of the canada development investment corporation. carney said the money will target infrastructure and productivity-enhancing projects. the announcement comes as canada looks for ways to reduce reliance on us trade.