Under present legislation dedicated funds attracted 35-40 per cent income tax, and that did not make sense.
They hope the fund will attract further grants and donations.
This fund attracted around $1.5m at its peak, but no firm evidence was forthcoming.
Such funds have attracted as much as $350 billion from investors in recent years.
The fund has attracted 350 members from throughout the region.
Mutual fund executives said funds in those areas were attracting increased attention.
The fund will attract private investors by using public resources to protect them from the risks I referred to earlier.
Indeed, international funds attracted increasing amounts of capital during the second quarter.
As their prices rose, the two funds attracted some short-selling.
That fund has attracted more than $5 billion of capital commitments.