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Medvedev Expands Investment Options for National Prosperity Fund

The list of foreign currencies in which the multibillion National Welfare Fund can invest its assets has been expanded.

Prime Minister Dmitry Medvedev has signed a decree, authorizing the fund's managers to buy financial assets and government bonds denominated in Australian and Canadian dollars, Swiss francs and Japanese yens, in addition to the traditional reserve currencies — the U.S. dollar, the Euro and the British Pound, Finmarket.ru reported Wednesday.

The decree also gives license to invest the fund's money into Russian securities related to domestic commercial infrastructure projects, a list of which will be compiled by the Cabinet.

As of Nov. 1, the National Welfare Fund held 2.85 trillion rubles ($88.5 billion), Interfax reported.

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