Wealth? In this economy?

Canada has announced a sovereign wealth fund, sparking debate over its name and purpose. Unlike Alberta's heritage fund, which was established to capture oil revenues, Canada's fund will be funded through debt. Critics argue that a more accurate name might be a 'slush fund' as investment returns will need to surpass the cost of servicing the debt. The fund's investment plans focus on energy, minerals, agriculture, and infrastructure, rather than innovation, intellectual property, and research. Critics flag that intangible assets like IP and data are key to long-term returns, but are largely missing from the plan. True wealth isn't built by chasing short-term profit, and Canada will need to think carefully about what it plans to fund to create sovereign wealth for the future.