The Philippines’ first sovereign wealth fund, the Maharlika Investment Fund (MIF), looks to deploy a portion of its capital to invest in airports and power projects that will bring long-term profits, Rafael Jose D. Consing, Jr., the newly appointed president and chief executive officer (CEO) of the Maharlika Investment Corp. (MIC), said. The sovereign wealth fund will not be investing in the stock market and instead will focus on building real assets, he added. President Ferdinand R. Marcos, Jr. on Monday appointed Mr. Consing, the executive director of the Office of the Presidential Adviser for Investment and Economic Affairs, as MIC president and CEO. Under this role, he will manage and invest the initial and future contributions to the Philippines’ first sovereign strategic development fund.
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