There isn't an actively managed U.S. mutual fund that invests solely in Australia, but there is an exchange-traded fixed basket of Aussie stocks, the Ishares Morgan Stanley Capital Index Australia Index Fund from Barclays Global Investors.

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Addressing members of the Australia-Ireland fund during a visit to Melbourne on Sunday Bertie Ahern said everyone, including the British and Irish governments, had an absolute obligation to implement all aspects of the Good Friday Agreement.

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The Greenland glaciers are melting at a furiously dangerous rate, reports Robert Purves, an Australian environmental consultant and current board member of World Wildlife Fund (Australia).

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Australia has its own Future Fund, where it sets aside money to pay for the pensions of public-sector workers.

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Meanwhile, in Australia, another area of fund concentration, stocks are mired in a 14-month-long slump as Chinese demand decelerates.

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By a fund manager in Australia called John Hempton.

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Economic growth in Australia has been sluggish recently, but that might be changing, says Adam Patti, CEO of IndexIQ, which manages the IQ Australia Small Cap exchange-traded fund.

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But Mr McKibbin is not alone in thinking that Australia should have its own sovereign-wealth fund to invest money overseas, like Norway's huge fund.

ECONOMIST: Petri-dish economies

Britain, Australia and others have also vowed to help fund demonstration plants partly because they reckon the private sector is put off by the huge price-tag on a single CCS power plant, and also in the belief that the cost of CCS will fall with experience.

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Here in Australia our pension programme offers many advantages for the government and fund managers but few for contributors.

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Fitzsimmons says his fund recently has focused on financial services companies like Commonwealth Bank, Macquarie Bank and National Australia Bank in an effort to benefit from the overall prosperity of the economy, which is expected to grow 4.8% this year.

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Julia Gillard, Australia's prime minister, has proposed a tax on mining profits but has ruled out a sovereign fund.

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