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The Abu Dhabi Investment Authority is a sovereign wealth fund owned by the Emirate of Abu Dhabi in the United Arab Emirates, founded to invest funds on behalf of the Government of Abu Dhabi. It manages the emirate's excess oil reserves and is estimated to manage $853 billion. ADIA is one of the largest sovereign wealth funds in the world.
GIC Private Limited is a Singaporean sovereign wealth fund that manages the country's foreign reserves. Established by the Government of Singapore in 1981 as the Government of Singapore Investment Corporation, of which "GIC" is derived from as an acronym, its mission is to preserve and enhance the international purchasing power of the reserves, with the aim to achieve good long-term returns above global inflation over the investment time horizon of 20 years.
The Saudi Central Bank, previously known as the Saudi Arabian Monetary Authority, established in 1952, is the central bank of the Kingdom of Saudi Arabia. After the name change in 2020, the Saudi Central Bank continued to use the same acronym (SAMA).
The Kuwait Investment Authority (KIA) is the Middle East's oldest sovereign wealth fund, managing the state’s reserve and the state’s future generation fund (FGF).
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank.
China Investment Corporation is a sovereign wealth fund that manages part of China's foreign exchange reserves. China's largest sovereign fund, CIC was established in 2007 with about US$200 billion of assets under management, a number that grew to US$1,200 billion in 2021 and US$1,350 billion in 2023.
The Libyan Investment Authority is a government-managed sovereign wealth fund and holding company headquartered in Tripoli, Libya. It was established on August 28, 2006, by Decree 208 of the General People's Committee of Libya (GPC), after the lifting of economic sanctions that had previously precluded foreign investment in Libya. The LIA oversees and manages investments in various areas including agriculture, real estate, infrastructure, oil and gas and in shares and bonds. It is Africa's largest sovereign wealth fund. The fund is a member of the International Forum of Sovereign Wealth Funds and is therefore signed up to the Santiago Principles on best practice in managing sovereign wealth funds. In September 2023, the fund has US$67 billion in assets under management.
The Korea Investment Corporation is a sovereign wealth fund established by the government of South Korea in 2005. Its mission is to preserve and enhance the long-term purchasing power of South Korea's sovereign wealth through efficient management of public funds in the international financial markets. KIC manages assets entrusted by the Government, the Bank of Korea, and other public funds as defined under the National Finance Act. KIC directly invests the entrusted assets or re-entrusts the assets to external managers. As of September 2023, KIC has $169 billion assets under management.
The Qatar Investment Authority is Qatar's sovereign wealth fund. The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. In September 2023, the QIA has an estimated $475 billion of assets under management.
The Santiago Principles or formally the Sovereign Wealth Funds: Generally Accepted Principles and Practices (GAPP) are designed as a common global set of 24 voluntary guidelines that assign best practices for the operations of Sovereign Wealth Funds (SWFs). They are a consequence of the concern of investors and regulators to establish management principles addressing the inadequate transparency, independence, and governance in the industry. They are guidelines to be followed by sovereign wealth fund management to maintain a stable global financial system, proper controls around risk, regulation and a sound governance structure.
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The Oman Investment Fund is a sovereign wealth fund, established in 2006 in accordance with a royal decree of His Majesty the Sultan of Oman. The fund makes medium to long-term investments, globally and domestically, to diversify the government of Oman's asset base and create a pool of sustainable cash flow. Currently, the fund's assets under management are estimated at approximately US$18 billion.
The Ministry of Finance (MOF) is the governmental body in the Sultanate of Oman responsible for all government financial matters.
The Nigeria Sovereign Investment Authority is a Nigerian establishment which manages the Nigeria sovereign wealth fund, into which the surplus income produced from Nigeria's excess oil reserves is deposited. This sovereign wealth fund was founded for the purpose of managing and investing these funds on behalf of the government of Nigeria. The fund was established by the Nigeria Sovereign Investment Authority Act 2011, signed in May 2011, and commenced operations in October 2012. It is intended to invest the savings gained on the difference between the budgeted and actual market prices for oil to earn returns that would benefit future generations of Nigerians. The fund was allocated an initial US$1 billion in seed capital, and, an additional $0.60billion has been contributed to date by the current administration. In September 2023, the fund has US$2.3 billion in assets under management.
The Fundo Soberano de Angola is the sovereign wealth fund of Angola. It is a member of the International Forum of Sovereign Wealth Funds, and therefore has signed up to the Santiago Principles on best practice in managing sovereign wealth funds. The FSDEA is meant to play an important role in promoting Angola’s social and economic development and generating wealth for its people. The fund was rated by the SWFI in February 2015 with a ranking of 8 out of 10.
The Public Investment Fund is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$776 billion. It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia. The wealth fund is controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015.
National Investment Corporation of the National Bank of Kazakhstan (NIC) was established in October 2012 to preserve and enhance the long-term purchasing power of Kazakhstan’s foreign exchange reserves and of the National Fund through investments in less liquid high yielding asset classes. NIC manages assets entrusted by the National Bank of Kazakhstan. NIC invests in private equity, hedge funds, real estate and infrastructure through external managers and has signed up to the Santiago Principles on best practice in managing sovereign wealth funds.
Dr. Salem Ben Nasser Al-Ismaily is an Omani advisor at the Omani Ministry of Foreign Affairs. Al-Ismaily was previously the chairman and chief executive officer of the Sultanate of Oman Public Authority for Investment Promotion and Export Development, or Ithraa. Al Ismaily has been conferred by the Sultan of Oman, Haitham bin Tariq, the second class order of Oman and by Qaboos bin Said bin Taimur, the late Sultan of Oman, the third and the second class orders of Oman.
Sultan bin Salim bin Said al-Habsi is the current Minister of Finance of Oman since 18 August 2020. He is also the chairman of Oman Investment Authority.
References
- ↑ International Forum of Sovereign Wealth Funds. "IFSWF Our members". Archived from the original on 27 September 2016. Retrieved 24 September 2016.
- ↑ "Royal Decree of Oman Investment Authority | SWFI". swfinstitute.org. Retrieved 2020-06-13.
- ↑ "Sultan Salem Saeed alHabsi". Dhow Net. 14 May 2021. Archived from the original on 2021-05-14.
- "SGRF investing in Bulgaria - a messy experience". Muscat Confidential. 11 March 2009. Retrieved 1 February 2011.
- "Oman, Libya Sign $500 Million JV Deal". Khaleej Times. 14 December 2008. Retrieved 29 November 2009.
- "VTB Capital signs Memorandum of Understanding (MOU) with State General Reserve Fund of the Sultanate of Oman". Zawya. 30 September 2009. Retrieved 29 November 2009.