From Wikipedia, the free encyclopedia

A sovereign wealth fund (SWF) is a fund owned by a state (or a political subdivision of a federal state) composed of financial assets such as stocks, bonds, property or other financial instruments. Sovereign wealth funds are entities that manage the national savings for the purposes of investment. The accumulated funds may have their origin in, or may represent, foreign currency deposits, foreign exchange reserves, gold, special drawing rights (SDRs) and International Monetary Fund (IMF) reserve position held by central banks and monetary authorities, along with other national assets such as pension investments, oil funds, or other industrial and financial holdings. These are assets of the sovereign nations which are typically held in reserves domestic and reserve foreign currencies such as the dollar, euro, pound sterling and yen. The names attributed to the management entities may include state-owned (federal, state and provincial) central banks, national monetary authorities, official investment companies, sovereign oil funds, pension funds, among others.

Some countries may have more than one SWF. Also, while the United States does not have a federal sovereign wealth fund, several of its states have their own SWFs. The list does not include pension funds that do not meet the SWF criteria.

Country Funds Assets
USD billion
Origin
  China [1] [2] [3] [4] [5] China-Africa Development Fund / China Investment Corporation / National Council for Social Security Fund / State Administration of Foreign Exchange / CNIC Corporation Limited (Guoxin International Investment Co., Ltd.) 2,750 Non-commodity
  Singapore [a] Monetary Authority of Singapore / Government of Singapore Investment Corporation / Temasek Holdings / Central Provident Fund 2,074 Non-commodity
  United Arab Emirates [b] Abu Dhabi Developmental Holding Company [21] / Abu Dhabi Investment Authority / Dubai World / Emirates Investment Authority / Investment Corporation of Dubai / Mubadala Investment Company / Ras Al Khaimah Investment Authority / Sharjah Assets Management [22] / Fujairah Holdings [23] 2,040 Oil & Gas / Non-commodity
  Norway [24] Government Pension Fund of Norway 1,555 Oil & Gas
  Saudi Arabia [25] [26] Public Investment Fund / National Development Fund 1,345 Oil & Gas
  Kuwait [27] Kuwait Investment Authority / Gulf Investment Corporation / Wafra International Investment Company 804 Oil & Gas
  Hong Kong [28] [29] [30] [31] HK SAR Exchange Fund (HK MAS) / Hong Kong Investment Corporation [c] 576 Non-commodity
  Qatar Qatar Investment Authority 450 Oil & Gas
  Australia Future Fund / Queensland Investment Corporation / Victorian Funds Management Corporation / New South Wales Treasury Corporation 357 Non-commodity
  United States [d] State-level entities
Alaska Permanent Fund / New Mexico State Investment Council / Permanent Wyoming Mineral Trust Fund / Utah School and Institutional Trust Funds Office / Idaho Endowment Fund Investment Board / Texas Permanent School Fund / Texas Permanent University Fund / Alabama Trust Fund / North Dakota Legacy Fund / Louisiana Education Quality Trust Fund / Oregon Common School Fund / West Virginia Future Fund
322 Oil & Gas / Non-commodity /
Minerals / Public Lands
  South Korea [32] [33] Korea Investment Corporation 181 Non-commodity
  Russia [34] [35] Russian National Wealth Fund / Russian Direct Investment Fund 174 Oil & Gas / Non-commodity
  Iran [36] National Development Fund of Iran 156.5 Oil & Gas
  Kazakhstan Samruk-Kazyna [37] / National Investment Corporation 155.1 Oil & Gas
  Ethiopia [38] Ethiopian Investment Holdings 150.0 Non-commodity
  Malaysia [39] [40] [41] [42] Khazanah Nasional / Permodalan Nasional Berhad / Lembaga Tabung Angkatan Tentera / Sarawak Sovereign Wealth Future Fund [43] 119 Non-commodity
  Azerbaijan [44] Azerbaijan Investment Holding / State Oil Fund of Azerbaijan 75 Oil & Gas
  Brunei [45] Brunei Investment Agency 73 Oil & Gas
  Tanzania Natural Gas Revenue Fund 66.4 Oil & Gas
  Libya [46] Libyan Investment Authority 38.8 Oil & Gas
  Oman [47] Oman Investment Authority 41.5 Oil & Gas
  Turkey Turkey Wealth Fund 34 Non-commodity
  Austria Österreichische Beteiligungs AG 32 Non-commodity
  New Zealand New Zealand Superannuation Fund 27 Non-commodity
  Chile Economic and Social Stabilization Fund / Pension Reserve Fund 21 Copper
  Bahrain [48] Mumtalakat Holding Company 18.6 Oil & Gas
  East Timor [49] Timor-Leste Petroleum Fund 17 Oil & Gas
  Canada Alberta Investment Management Corporation / Alberta Heritage Savings Trust Fund 16 Oil & Gas
  India National Investment and Infrastructure Fund, Tamil Nadu Industrial Development Corporation 12.4 Non-commodity
  Ireland Ireland Strategic Investment Fund 12 Non-commodity
  Colombia Fondo de Ahorro y Estabilización Petrolera / Fideicomiso Fondo de Ahorro y Estabilización 12 Oil & Gas
  Italy CDP Equity, Fondo nazionale del Made in Italy 11 Oil & Gas / Non-commodity
  Philippines Maharlika Investment Fund 9.2 Non-commodity
  Pakistan Pakistan Sovereign Wealth Fund 8.0 Oil & Gas / Non-commodity
  Mexico Fondo Mexicano del Petroleo para la Estabilizacion y el Desarrollo 7 Oil & Gas
  Trinidad and Tobago The Heritage and Stabilization Fund [50] 6 Oil & Gas
  Indonesia [51] Indonesia Investment Authority 5.6 Non-commodity
  Peru Fiscal Stabilization Fund 5 Non-commodity
  Angola Fundo Soberano de Angola 5 Oil & Gas
  Botswana [52] Pula Fund 4.9 Diamonds
  Mongolia Future Heritage Fund [53] [54]/ Fiscal Stability Fund [55] 4 Minerals
  Denmark Danish Growth Fund / Export and Investment Fund of Denmark [56] 4

Non-commodity

  Nigeria Nigeria Sovereign Investment Authority / Bayelsa Development and Investment Corporation 2 Oil & Gas
  Ghana Ghana Petroleum Funds / Ghana Infrastructure Investment Fund 2 Oil & Gas
  Israel [57] Israeli Citizens' Fund 1.83 Gas & Minerals
  Panama Fondo de Ahorro de Panamá 1.4 Non-commodity
  Vietnam State Capital Investment Corporation 1.2 Non-commodity
  Gabon Fonds Gabonais d’Investissements Stratégiques 1.0 Oil & Gas
  Egypt [58] The Sovereign Fund of Egypt 11.9 Non-commodity
  Bolivia Fondo para la Revolución Industrial Productiva 0.4 Non-commodity
  Kiribati Revenue Equalization Reserve Fund 0.4 Phosphates
  Senegal Fonds Souverain d'Investissements Stratégiques 0.1 Non-commodity
  Mauritania National des Revenus des Hydrocarbures 0.1 Oil & Gas
  Equatorial Guinea Réserves pour Générations Futures 0.1 Oil & Gas

Notes

  1. ^ [6] [7] [8] [9] [10]
  2. ^ [11] [12] [13] [14] [15] [16] [17] [18] [19] [20]
  3. ^ Hong Kong Government's stake in the Mass Transit Railway Corporation (MTRCL) and the Airport Authority (AA), both of which also invest and operate outside Hong Kong's border, are not included.
  4. ^ The United States maintains no such wealth funds at the federal-level.

References

  1. ^ "China Investment Corporation (CIC) - Sovereign Wealth Fund, China - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  2. ^ "China-Africa Development Fund (CAD Fund) - Government Fund, China - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  3. ^ "National Council for Social Security Fund (NSSF) - Sovereign Wealth Fund, China - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  4. ^ "SAFE Investment Company (SAFE) - Government, China - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  5. ^ "CNIC Corporation Limited (Guoxin International Investment Co., Ltd.) - Sovereign Wealth Fund, Hong Kong - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  6. ^ "GIC Private Limited (GIC) - Sovereign Wealth Fund, Singapore - SWFI". www.swfinstitute.org. Retrieved 2022-12-08.
  7. ^ "Temasek Holdings (Temasek) - Sovereign Wealth Fund, Singapore - SWFI". www.swfinstitute.org. Retrieved 2022-12-08.
  8. ^ "Central Provident Fund (CPF) - Public Pension, Singapore - SWFI". www.swfinstitute.org. Retrieved 2022-12-08.
  9. ^ "Monetary Authority of Singapore (MAS) - Central Bank, Singapore - SWFI". www.swfinstitute.org. Retrieved 2023-03-28.
  10. ^ "MAS Transfers S$75 Billion Excess Official Foreign Reserves to the Government". www.mas.gov.sg. Retrieved 2022-12-08.
  11. ^ "ADQ (UAE - Abu Dhabi) - Fund Profile -". globalswf.com. Retrieved 2023-09-07.
  12. ^ "Abu Dhabi Investment Authority (ADIA) - Sovereign Wealth Fund, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2023-09-07.
  13. ^ "ADPF (UAE - Abu Dhabi) - Fund Profile -". globalswf.com. Retrieved 2023-09-07.
  14. ^ "Dubai World (UAE - Dubai) - Fund Profile -". globalswf.com. Retrieved 2023-09-07.
  15. ^ "Emirates Investment Authority (EIA) - Sovereign Wealth Fund, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2023-09-07.
  16. ^ "Mubadala Investment Company (Mubadala) - Sovereign Wealth Fund, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2023-09-07.
  17. ^ SAMH. "Sharjah Asset Management – The Investment Arm of the Government of Sharjah". Archived from the original on 23 August 2021. Retrieved 23 August 2021.
  18. ^ "RAK Investment Authority (RAK Investment Authority) - State Owned Enterprise, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2023-09-07.
  19. ^ "Investment Corporation of Dubai (ICD) - Sovereign Wealth Fund, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2023-06-06.
  20. ^ "GPSSA (UAE - Abu Dhabi) - Fund Profile -". globalswf.com. Retrieved 2023-09-07.
  21. ^ "Abu Dhabi Developmental Holding Company (ADQ) - Sovereign Wealth Fund, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2024-01-06.
  22. ^ "Sharjah Asset Management (Sharjah Asset Management) - Sovereign Wealth Fund, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2024-01-06.
  23. ^ "Fujairah Holding (Fujairah Holding) - Sovereign Wealth Fund, United Arab Emirates - SWFI". www.swfinstitute.org. Retrieved 2024-01-13.
  24. ^ "Norway Government Pension Fund Global (Norway GPFG) - Sovereign Wealth Funds, Norway - SWFI". www.swfinstitute.org. Retrieved 2022-06-12.
  25. ^ "Public Investment Fund (PIF) - Sovereign Wealth Fund, Saudi Arabia - SWFI". www.swfinstitute.org. Retrieved 2023-06-21.
  26. ^ "Global SWF". globalswf.com. Retrieved 2023-09-09.
  27. ^ "Kuwait Investment Authority (KIA) - Sovereign Wealth Fund, Kuwait - SWFI". www.swfinstitute.org. Archived from the original on 8 October 2020. Retrieved 2020-10-14.
  28. ^ "Hong Kong Monetary Authority Investment Portfolio (HKMA IP) - Sovereign Wealth Fund, Hong Kong - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  29. ^ "Hong Kong Monetary Authority Investment Portfolio (HKMA IP) - Sovereign Wealth Fund, Hong Kong - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  30. ^ "Hong Kong Future Fund (Hong Kong Future Fund) - Sovereign Wealth Fund, Hong Kong - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  31. ^ "Hong Kong finally gets its own sovereign wealth fund". chinadailyhk. Retrieved 2023-09-09.[ better source needed]
  32. ^ "Korea Investment Corporation (KIC) - Sovereign Wealth Fund, South Korea - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  33. ^ "National Pension Service of Korea (NPS) - Sovereign Wealth Fund, South Korea - SWFI". www.swfinstitute.org. Retrieved 2022-12-22.
  34. ^ "Russian Direct Investment Fund (RDIF) - Sovereign Wealth Fund, Russia - SWFI". www.swfinstitute.org. Retrieved 2024-01-02.
  35. ^ "National Welfare Fund (National Wealth Fund) - Sovereign Wealth Fund, Russia - SWFI". www.swfinstitute.org. Retrieved 2024-01-02.
  36. ^ "National Development Fund of Iran (NDFI) - Sovereign Wealth Fund, Iran - SWFI". www.swfinstitute.org. Retrieved 2024-01-02.
  37. ^ "Samruk-Kazyna (Samruk Kazyna) - Sovereign Wealth Fund, Kazakhstan - SWFI". www.swfinstitute.org. Retrieved 2024-01-06.
  38. ^ "Ethiopian Investment Holdings - Sovereign Wealth Fund, Ethiopia - IFSWF". www.ifswf.org. Retrieved 2024-05-19.
  39. ^ "Khazanah Nasional (Khazanah) - Sovereign Wealth Fund, Malaysia - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  40. ^ "Permodalan Nasional (PNB) - Government Fund, Malaysia - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  41. ^ "Sarawak Sovereign Wealth Future Fund (Sarawak Sovereign Wealth Future Fund) - Sovereign Wealth Fund, Malaysia - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  42. ^ "Lembaga Tabung Angkatan Tentera (Malaysia's Armed Forces Fund Board) - Public Pension, Malaysia - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  43. ^ "Sarawak Sovereign Wealth Future Fund (Sarawak Sovereign Wealth Future Fund) - Sovereign Wealth Fund, Malaysia - SWFI". www.swfinstitute.org. Retrieved 2024-01-06.
  44. ^ "State Oil Fund of Azerbaijan (SOFAZ) - Sovereign Wealth Fund, Azerbaijan - SWFI". www.swfinstitute.org. Retrieved 2020-09-17.
  45. ^ "Brunei Investment Agency (BIA) - Sovereign Wealth Fund, Brunei - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  46. ^ "Libyan Investment Authority (LIA) - Sovereign Wealth Fund, Libya - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  47. ^ Narayanan, Archana (2022-11-14). "Oman's Sovereign Wealth Fund Boosts Assets to $41.5 Billion". Bloomberg. Retrieved 2023-06-29.
  48. ^ "Mumtalakat Holding (Mumtalakat) - Sovereign Wealth Fund, Bahrain - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  49. ^ "Timor-Leste Petroleum Fund (Timor-Leste Petroleum Fund) - Sovereign Wealth Fund, East Timor - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  50. ^ "Heritage and Stabilization Fund (Heritage and Stabilization Fund) - Sovereign Wealth Fund, Trinidad and Tobago - SWFI". www.swfinstitute.org. Retrieved 2024-01-06.
  51. ^ "Indonesia Investment Authority (Indonesia Investment Authority) - Sovereign Wealth Fund, Indonesia - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
  52. ^ "Pula Fund (Pula Fund) - Sovereign Wealth Fund, Botswana - SWFI". www.swfinstitute.org. Retrieved 2020-09-15.
  53. ^ "Future Heritage Fund | International Forum of Sovereign Wealth Funds". www.ifswf.org. Retrieved 2024-01-06.
  54. ^ "FHF-FSF (Mongolia) - Fund Profile -". globalswf.com. Retrieved 2024-01-06.
  55. ^ "Mongolia Fiscal Stability Fund (Mongolia Fiscal Stability Fund) - Sovereign Wealth Fund, Mongolia - SWFI". www.swfinstitute.org. Retrieved 2024-01-06.
  56. ^ https://www.swfinstitute.org/profile/5e39a2cafcbe7e8ca7140346
  57. ^ "Israeli Citizens Fund (Israeli Citizens Fund) - Sovereign Wealth Fund, Israel - SWFI". www.swfinstitute.org. Retrieved 2024-01-25.
  58. ^ "The Sovereign Fund of Egypt (Egypt Fund) - Sovereign Wealth Fund, Egypt - SWFI". www.swfinstitute.org. Retrieved 2024-01-25.
  1. SWF Institute - Organization dedicated to analyzing Sovereign Wealth Funds and Public Pension Funds