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 | width=500 | Funds ! | data-sort-type="number" | Assets USD billion ! | Origin |
---|---|---|---|---|---|
[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 | ||
Monetary Authority of Singapore / Government of Singapore Investment Corporation / Temasek Holdings / Central Provident Fund | 2,074 | Non-commodity | |||
Abu Dhabi Developmental Holding Company[6] / Abu Dhabi Investment Authority / Dubai World / Emirates Investment Authority / Investment Corporation of Dubai / Mubadala Investment Company / Ras Al Khaimah Investment Authority / Sharjah Assets Management[7] / Fujairah Holdings[8] | 2,040 | Oil & Gas / Non-commodity | |||
[9] | Government Pension Fund of Norway | 1,555 | Oil & Gas | ||
[10] [11] | Public Investment Fund / National Development Fund | 1,345 | Oil & Gas | ||
[12] | Kuwait Investment Authority / Gulf Investment Corporation / Wafra International Investment Company | 804 | Oil & Gas | ||
[13] [14] [15] [16] | HK SAR Exchange Fund (HK MAS) / Hong Kong Investment Corporation | 576 | Non-commodity | ||
Qatar Investment Authority | 450 | Oil & Gas | |||
Future Fund / Queensland Investment Corporation / Victorian Funds Management Corporation / New South Wales Treasury Corporation | 357 | Non-commodity | |||
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 | |||
[17] [18] | Korea Investment Corporation | 181 | Non-commodity | ||
[19] [20] | Russian National Wealth Fund / Russian Direct Investment Fund | 174 | Oil & Gas / Non-commodity | ||
[21] | 156.5 | Oil & Gas | |||
Samruk-Kazyna[22] / National Investment Corporation | 155.1 | Oil & Gas | |||
[23] | Ethiopian Investment Holdings | 150.0 | Non-commodity | ||
[24] [25] [26] [27] | Khazanah Nasional / Permodalan Nasional Berhad / Lembaga Tabung Angkatan Tentera / Sarawak Sovereign Wealth Future Fund[28] | 119 | Non-commodity | ||
[29] | Azerbaijan Investment Holding / State Oil Fund of Azerbaijan | 75 | Oil & Gas | ||
[30] | Brunei Investment Agency | 73 | Oil & Gas | ||
Natural Gas Revenue Fund | 66.4 | Oil & Gas | |||
[31] | Libyan Investment Authority | 38.8 | Oil & Gas | ||
[32] | Oman Investment Authority | 41.5 | Oil & Gas | ||
Turkey Wealth Fund | 34 | Non-commodity | |||
Österreichische Beteiligungs AG | 32 | Non-commodity | |||
New Zealand Superannuation Fund | 27 | Non-commodity | |||
Economic and Social Stabilization Fund / Pension Reserve Fund | 21 | Copper | |||
[33] | Mumtalakat Holding Company | 18.6 | Oil & Gas | ||
[34] | Timor-Leste Petroleum Fund | 17 | Oil & Gas | ||
Alberta Investment Management Corporation / Alberta Heritage Savings Trust Fund | 16 | Oil & Gas | |||
National Investment and Infrastructure Fund, Tamil Nadu Industrial Development Corporation | 12.4 | Non-commodity | |||
Ireland Strategic Investment Fund | 12 | Non-commodity | |||
Fondo de Ahorro y Estabilización Petrolera / Fideicomiso Fondo de Ahorro y Estabilización | 12 | Oil & Gas | |||
CDP Equity, Fondo nazionale del Made in Italy | 11 | Oil & Gas / Non-commodity | |||
Maharlika Investment Fund | 9.2 | Non-commodity | |||
Pakistan | Pakistan Sovereign Wealth Fund | 8.0 | Oil & Gas / Non-commodity | ||
Fondo Mexicano del Petroleo para la Estabilizacion y el Desarrollo | 7 | Oil & Gas | |||
The Heritage and Stabilization Fund[35] | 6 | Oil & Gas | |||
[36] | Indonesia Investment Authority | 5.6 | Non-commodity | ||
Fiscal Stabilization Fund | 5 | Non-commodity | |||
Fundo Soberano de Angola | 5 | Oil & Gas | |||
[37] | Pula Fund | 4.9 | Diamonds | ||
Future Heritage Fund[38] [39] / Fiscal Stability Fund[40] | 4 | Minerals | |||
Danish Growth Fund / Export and Investment Fund of Denmark [41] | 4 | Non-commodity | |||
Nigeria Sovereign Investment Authority / Bayelsa Development and Investment Corporation | 2 | Oil & Gas | |||
Ghana Petroleum Funds / Ghana Infrastructure Investment Fund | 2 | Oil & Gas | |||
[42] | Israeli Citizens' Fund | 1.83 | Gas & Minerals | ||
Fondo de Ahorro de Panamá | 1.4 | Non-commodity | |||
State Capital Investment Corporation | 1.2 | Non-commodity | |||
Fonds Gabonais d’Investissements Stratégiques | 1.0 | Oil & Gas | |||
[43] | The Sovereign Fund of Egypt | 11.9 | Non-commodity | ||
Fondo para la Revolución Industrial Productiva | 0.4 | Non-commodity | |||
Revenue Equalization Reserve Fund | 0.4 | Phosphates | |||
Fonds Souverain d'Investissements Stratégiques | 0.1 | Non-commodity | |||
National des Revenus des Hydrocarbures | 0.1 | Oil & Gas | |||
Réserves pour Générations Futures | 0.1 | Oil & Gas |