Canada Launches First Sovereign Wealth Fund

Canadian Prime Minister Mark Carney announced the launch of Canada's first sovereign wealth fund. The fund will begin with an initial endowment of C$25 billion, though some reports cite an $18 billion figure. Carney framed the initiative as a way to distance Canada's economy from the United States and invited citizens to participate, drawing a comparison to war bonds. The fund is government-owned and aims to boost Canadian investment.