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Many rich countries in the last decade have established SWFs.

Rather than using revenues for day-to day government expenditure governments have put billions of revenue from selling resources such as oil, gas into SWFs which are supposed to supplement impending Pension Crisis.

Their overall worth now stands in the Trillions of $.  Estimated to be over 6 trillion $ end of 2013.

The questions are;

1) Should there be enforceable rules for (SWF

) to make them more transparent?

2) Are they being used for strategic purposes rather than commercial ones?

3) Should they be barred from investing in ecologically damaging or dubious industries overseas?

4) Are they influencing national security and political independence?

5) How is the Money ( trillions) be eventually distributed – to whom?

6) Why are they not mentioned by the Economic gurus of the world?

7) What are their long-term objectives?

8) Can they be trusted?

9)  Is all the Money clean?

10) ARE WE BEING HOOD WINKED INTO A WORLD WHERE EVERY THING WILL BE PRIVATELY OWNED.

The answer is to date most SWFs rather than ameliorating inequalities or subsidizing the consumption of the poor are intended to finance unspecified prestige projects for ruling families.

Largest sovereign wealth funds.

Country Abbreviation Fund Assets US$Billion[8] Inception Origin
Norway Norway GPF Government Pension Fund – Global 838 1990 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi
ADIA Abu Dhabi Investment Authority 773 1976 Oil
Saudi Arabia Saudi Arabia SAMA SAMA Foreign Holdings 675.9 n/a Oil
China China CIC China Investment Corporation 575.2 2007 Non-commodity
China China SAFE SAFE Investment Company 567.9** 1997 Non-commodity
Kuwait Kuwait KIA Kuwait Investment Authority 410 1953 Oil
Hong Kong Hong Kong HKMA Hong Kong Monetary Authority Investment Portfolio 326.7 1993 Non-commodity
Singapore Singapore GIC Government of Singapore Investment Corporation 285 1981 Non-commodity
Singapore Singapore TH Temasek Holdings 173.3 1974 Non-commodity
Qatar Qatar QIA Qatar Investment Authority 170 2003 Oil
China China NSSF National Social Security Fund 160.6 2000 Non-commodity
Australia Australia AFF Future Fund 88.7 2004 Non-commodity
Russia Russia RNWF National Welfare Fund 88 2008 Oil
Russia Russia RRF Russian Reserve Fund 86.4 2008 Oil
Kazakhstan Kazakhstan S-K JSC Samruk-Kazyna JSC 77.5 2008 Non-commodity
Algeria Algeria RRF Revenue Regulation Fund 77.2 2000 Oil
South Korea South Korea KIC Korea Investment Corporation 72 2005 Non-commodity
United Arab Emirates United Arab Emirates
Dubai Dubai
ICD Investment Corporation of Dubai 70 2006 Oil
Kazakhstan Kazakhstan KNF Kazakhstan National Fund 68.9 2000 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi
IPIC International Petroleum Investment Company 65.3 1984 Oil
Libya Libya LIA Libyan Investment Authority 60 2006 Oil
Iran Iran NDF National Development Fund 58.6 1999 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi
MDC Mubadala Development Company 55.5 2002 Oil
United States United States of America
Alaska Alaska
APF Alaska Permanent Fund[9] 49.5 1976 Oil
Malaysia Malaysia KN Khazanah Nasional 40.5 1993 Non-commodity
Brunei Brunei BIA Brunei Investment Agency 40 1983 Oil
Azerbaijan Azerbaijan SOFAZ State Oil Fund of the Republic of Azerbaijan 34.1 1999 Oil
United States United States of America
Texas Texas
PSF Permanent School Fund 30.3[10][11] 1854 Public Lands
France France SIF Strategic Investment Fund 25.5 2008 Non-commodity
Kazakhstan Kazakhstan NIC National Investment Corporation 20 2012 Oil
Republic of Ireland Ireland NPRF National Pensions Reserve Fund 19.4 2001 Non-commodity
New Zealand New Zealand NZSF New Zealand Superannuation Fund 19.3 2003 Non-commodity
Iraq Iraq DFI Development Fund for Iraq 18 2003 Oil
United States United States of America
New Mexico New Mexico
NMSIOT New Mexico State Investment Office Trust 17.3 1958 Non-commodity
Canada Canada
Alberta Alberta
AHSTF Alberta’s Heritage Savings Trust Fund[12] 16.4 1976 Oil
United States United States of America
Texas Texas
PUF Permanent University Fund 15.3[13] 1876 Public Lands
Chile Chile SESF Social and Economic Stabilization Fund 15.2 2007 Copper
East Timor Timor Leste TLPF Timor-Leste Petroleum Fund 14.6 2005 Oil & Gas
Russia Russia RDIF Russian Direct Investment Fund 13 2011 Non-commodity
United Arab Emirates United Arab Emirates
(Federal)
EIA Emirates Investment Authority 10 2007 Oil
Oman Oman SGRF State General Reserve Fund 8.2 1980 Oil & Gas
Bahrain Bahrain MHC Mumtalakat Holding Company 7.1 2006 Oil
Peru Peru FSF Fiscal Stabilization Fund 7.1 1999 Non-commodity
Chile Chile PRF Pension Reserve Fund 7 2006 Copper
Botswana Botswana PF Pula Fund 6.9 1996 Diamonds & Minerals
Mexico Mexico ORSFM Oil Revenues Stabilization Fund of Mexico 6 2000 Oil
Oman Oman OIF Oman Investment Fund 6 2006 Oil
Italy Italy ISF Italian Strategic Fund 6 2011 Non-commodity
United States United States of America
Wyoming Wyoming
PWMTF Permanent Wyoming Mineral Trust Fund 5.6 1974 Minerals
Brazil Brazil SFB Sovereign Fund of Brazil 5.3 2008 Non-commodity
Saudi Arabia Saudi Arabia PIF Public Investment Fund 5.3 2008 Oil
China China CADF China-Africa Development Fund 5 2007 Non-commodity
Angola Angola FSDEA Fundo Soberano de Angola 5 2012 Oil
Trinidad and Tobago Trinidad & Tobago HSF Heritage and Stabilization Fund 5 2000 Oil
United States United States of America
Alabama Alabama
ATF Alabama Trust Fund 2.5 1985 Oil & Gas
Nigeria Nigeria NSIA Nigeria Sovereign Investment Authority 1.5 2011 Oil
United States United States of America
North Dakota North Dakota
NDLF North Dakota Legacy Fund 1.4 2011 Oil & Gas
Panama Panama FAP Fondo de Ahorro de Panama 1.2 2012 Non-commodity
United Arab Emirates United Arab Emirates
Ras al-Khaimah Ra’s al Khaymah
RIA RAKIA 1.2 2005 Credits obtained via RAK Government
United States United States of America
Louisiana Louisiana
LEQTF Louisiana Education Quality Trust Fund 1.1 1986 Oil & Gas
Palestinian territories Palestine PIF Palestine Investment Fund 0.8 2003 Non-commodity
Venezuela Venezuela FEM FEM – Macroeconomic Stabilization Fund 0.8 1998 Oil
Kiribati Kiribati RERF Revenue Equalization Reserve Fund 0.6 1956 Phosphates
Vietnam Vietnam SCIC State Capital Investment Corporation 0.5 2006 Non-commodity
Gabon Gabon GSWF Sovereign Fund of the Gabonese Republic 0.4 1998 Oil
Indonesia Indonesia GIU Government Investment Unit of Indonesia
(Pusat Investasi Pemerintah (PIP))
0.3 2006 Non-commodity
Mauritania Mauritania NFHR National Fund for Hydrocarbon Reserves 0.3 2006 Oil & Gas
Australia Australia WAFF Western Australian Future Fund 0.3 2012 Minerals
Mongolia Mongolia FSF Fiscal Stability Fund 0.3 2011 Mining
Equatorial Guinea Equatorial Guinea FFG Fund for Future Generations 0.08 2002 Oil
Ghana Ghana GPF Ghana Petroleum Funds 0.07 2011 Oil
United Arab Emirates United Arab Emirates
Abu Dhabi (emirate) Abu Dhabi
ADIC Abu Dhabi Investment Council X 2007 Oil
Papua New Guinea Papua New Guinea PNGSWF Papua New Guinea Sovereign Wealth Fund X 2011 Gas
Turkmenistan Turkmenistan TSF Turkmenistan Stabilization Fund X 2008 Oil & Gas
Largest Sovereign Funds (SWFs) – 2012 Ranking
A Sovereign Wealth Fund is a state-owned investment fund comprising financial assets such as stocks, bonds, real estate or other instruments and funded by foreign exchange assets. In the latest 2012 ranking, the Abu Dhabi Investment Authority tops the list at US$627 billion, followed by Norway’s Government Pension Fund–Global (US$611 billion) and China’s SAFE Investment Company (US$568 billion). Many of the world’s largest SWFs are financed via oil revenue, such as in the case of the Abu Dhabi Investment Authority and Norway’s Government Pension Fund–Global.

Ten Largest SWFs in 2012 (in US$ Millions)

F-01-Money-chartv4
Sovereign wealth funds (SWFs) are managed separately from official currency reserves. They are pools of money governments use to generate profits. Often this money is invested in foreign companies. Their assets can include balance-of-payments surpluses, official foreign currency operations, proceeds of privatizations, fiscal surpluses and/or receipts resulting from commodity exports.

They can be structured as a fund, pool or corporation. They do not include foreign currency reserve assets held by monetary authorities for the traditional balance-of-payments or monetary policy purposes, state-owned enterprises (SOEs) in the traditional sense, government-employee pension funds or assets managed for the benefit of individuals.

 

Data is from the Sovereign Wealth Fund Institute, 2012 Sovereign Wealth Fund Allocation Report.

Read more: http://www.gfmag.com/tools/global-database/economic-data/12146-largest-sovereign-wealth-funds.html#ixzz2v0ny419u
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