2023 which sets the stage for the establishment of the country’s first sovereign wealth fund by September 12.
The Maharlika Investment Corp. , which serves as the sole entity responsible for mobilizing and utilizing the MIF, will initially be capitalized with P125 billion. The national government shall source its P50 billion contribution from 100 percent of the dividends of the Bangko Sentral ng Pilipinas for the first and second fiscal years; its 10 percent share from the income of the Philippine Amusement and Gaming Corp.
As enumerated under section 14, the MIC is authorized to invest in a wide range of products, activities, and projects: Cash and other tradable commodities; Fixed income instruments issued by sovereigns; Domestic and foreign corporate bonds; Listed or unlisted equities; and Islamic investments, such as Sukuk bonds, among others.
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