List of sovereign wealth funds by country

This is a list of sovereign wealth funds by country. 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. In the United States, several states have their own SWFs. In February 2025, President Donald Trump signed an executive order to establish a national sovereign wealth fund. ^{[1] [2]} The list does not include pension funds that do not meet the SWF criteria.

List

Country	Funds	Assets (billions USD)	Origin
China	China-Africa Development Fund [3] China Investment Corporation [4] National Council for Social Security Fund [5] SAFE Investment Company [6] CNIC Corporation Limited [7]	2,750	Non-commodity
United Arab Emirates [a]	Abu Dhabi Developmental Holding Company [18] Abu Dhabi Investment Authority Dubai World Emirates Investment Authority Investment Corporation of Dubai Mubadala Investment Company Ras Al Khaimah Investment Authority Sharjah Assets Management [19] Fujairah Holdings [20]	2,304	Oil & Gas Non-commodity
Singapore [b]	Monetary Authority of Singapore Government of Singapore Investment Corporation Temasek Holdings Central Provident Fund	2,074	Non-commodity
Norway [26]	Government Pension Fund of Norway	2,044	Oil & Gas
Saudi Arabia [27] [28]	Public Investment Fund National Development Fund	1,345	Oil & Gas
Kuwait [29]	Kuwait Investment Authority Gulf Investment Corporation Wafra International Investment Company	969	Oil & Gas
Indonesia [30] [31] [32]	Indonesia Investment Authority Danantara Indonesia Sovereign Fund	600–900 [33] [34] [35] [36]	Mineral, Non-commodity
Hong Kong [37] [38] [39] [40]	HK SAR Exchange Fund (HK MAS) Hong Kong Investment Corporation [c]	576	Non-commodity
Qatar	Qatar Investment Authority	510	Oil & Gas
Australia	Future Fund Queensland Investment Corporation Victorian Funds Management Corporation New South Wales Treasury Corporation	357	Non-commodity
United States	United States sovereign wealth fund [1] [41] State-level entities e.g. Alabama Trust Fund Alaska Permanent Fund Oregon Common School Fund Texas Permanent School Fund Texas Permanent University Fund West Virginia Future Fund	332	Oil & Gas Non-commodity / Minerals Public Lands
Turkey [42] [43]	Turkey Wealth Fund	318	Non-commodity
South Korea [44] [45]	Korea Investment Corporation	181	Non-commodity
Russia [46] [47]	Russian National Wealth Fund Russian Direct Investment Fund	174	Oil & Gas Non-commodity
Iran [48]	National Development Fund of Iran	156.5	Oil & Gas
Kazakhstan	Samruk-Kazyna [49] National Investment Corporation	155.1	Oil & Gas
Malaysia [50] [51] [52] [53]	Khazanah Nasional Permodalan Nasional Berhad Lembaga Tabung Angkatan Tentera Sarawak Sovereign Wealth Future Fund [54]	119.0	Non-commodity
Azerbaijan [55]	Azerbaijan Investment Holding State Oil Fund of Azerbaijan	75.0	Oil & Gas
Brunei [56]	Brunei Investment Agency	73.0	Oil & Gas
Tanzania	Natural Gas Revenue Fund	66.4	Oil & Gas
Oman [57]	Oman Investment Authority	53.0	Oil & Gas
Ethiopia [58]	Ethiopian Investment Holdings	46.0	Non-commodity
Libya [59]	Libyan Investment Authority	38.8	Oil & Gas
Austria	Österreichische Beteiligungs AG	32.0	Non-commodity
New Zealand	New Zealand Superannuation Fund	27.0	Non-commodity
Ireland [60] [61]	Ireland Strategic Investment Fund Future Ireland Fund	25.2	Non-commodity
Chile	Economic and Social Stabilization Fund Pension Reserve Fund	21.0	Copper
Bahrain [62]	Mumtalakat Holding Company	18.6	Oil & Gas
Timor-Leste [63]	Timor-Leste Petroleum Fund	17.0	Oil & Gas
Canada	Alberta Investment Management Corporation Alberta Heritage Savings Trust Fund	16.0	Oil & Gas
India	National Investment and Infrastructure Fund Tamil Nadu Industrial Development Corporation	12.4	Non-commodity
Colombia	Fondo de Ahorro y Estabilización Petrolera Fideicomiso Fondo de Ahorro y Estabilización	12.0	Oil & Gas
Greece [64]	Growthfund	12.0	Non-commodity
Egypt [65]	The Sovereign Fund of Egypt	11.9	Non-commodity
Italy	CDP Equity, Fondo nazionale del Made in Italy	11.0	Oil & Gas Non-commodity
Philippines	Maharlika Investment Fund	9.20	Non-commodity
Pakistan	Pakistan Sovereign Wealth Fund	8.00	Oil & Gas Non-commodity
Mexico	Fondo Mexicano del Petroleo para la Estabilizacion y el Desarrollo	7.00	Oil & Gas
Spain	Cofides [66]	6.00	Non-commodity
Trinidad and Tobago	The Heritage and Stabilization Fund [67]	6.00	Oil & Gas
Peru	Fiscal Stabilization Fund	5.00	Non-commodity
Angola	Fundo Soberano de Angola	5.00	Oil & Gas
Botswana [68]	Pula Fund	4.90	Diamonds
Mongolia	Chinggis Fund Future Heritage Fund [69] [70] Fiscal Stability Fund [71]	4.00	Minerals
Denmark	Danish Growth Fund Export and Investment Fund of Denmark [72]	4.00	Non-commodity
Israel [73] [74]	Israeli Citizens' Fund	2.08	Gas & Minerals
Nigeria	Nigeria Sovereign Investment Authority Bayelsa Development and Investment Corporation	2.00	Oil & Gas
Ghana	Ghana Petroleum Funds Ghana Infrastructure Investment Fund	2.00	Oil & Gas
Gabon	Fonds Gabonais d’Investissements Stratégiques [75]	1.89	Oil & Gas
Panama	Fondo de Ahorro de Panamá	1.40	Non-commodity
Vietnam	State Capital Investment Corporation	1.20	Non-commodity
Senegal	Fonds Souverain d'Investissements Stratégiques [76]	1.20	Non-commodity
Kiribati	Revenue Equalization Reserve Fund	1.00	Phosphates
Bolivia	Fondo para la Revolución Industrial Productiva	0.40	Non-commodity
Brazil	Fundo Soberano de Estado do Espirito Santo	0.20	Oil & Gas
Mauritania	National des Revenus des Hydrocarbures	0.10	Oil & Gas
Equatorial Guinea	Réserves pour Générations Futures	0.10

Notes

1. ^{[8] [9] [10] [11] [12] [13] [14] [15] [16] [17]}
2. ^{[21] [22] [23] [24] [25]}
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.

References

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35. //www.linkedin.com/pulse/danantara-900-billion-dollar-leap-faith-indonesias-future-mckiernon-govrc/

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45. "National Pension Service of Korea (NPS) - Sovereign Wealth Fund, South Korea - SWFI". www.swfinstitute.org. Retrieved 2022-12-22.
46. "Russian Direct Investment Fund (RDIF) - Sovereign Wealth Fund, Russia - SWFI". www.swfinstitute.org. Retrieved 2024-01-02.
47. "National Welfare Fund (National Wealth Fund) - Sovereign Wealth Fund, Russia - SWFI". www.swfinstitute.org. Retrieved 2024-01-02.
48. "National Development Fund of Iran (NDFI) - Sovereign Wealth Fund, Iran - SWFI". www.swfinstitute.org. Retrieved 2024-01-02.
49. "Samruk-Kazyna (Samruk Kazyna) - Sovereign Wealth Fund, Kazakhstan - SWFI". www.swfinstitute.org. Retrieved 2024-01-06.
50. "Khazanah Nasional (Khazanah) - Sovereign Wealth Fund, Malaysia - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
51. "Permodalan Nasional (PNB) - Government Fund, Malaysia - SWFI". www.swfinstitute.org. Retrieved 2023-12-27.
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1. SWF Institute - Organization dedicated to analyzing Sovereign Wealth Funds and Public Pension Funds