FACTBOX: The world's largest sovereign wealth funds

Tue Jul 8, 2008 6:47am EDT
 
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SINGAPORE (Reuters) - The International Monetary Fund's working group on sovereign wealth funds will meet in Singapore on July 9-10 to work out guidelines for government-managed funds, which have gained prominence due to large investments in Western banks.

The following are state entities with estimated assets in excess of $100 billion:

1. Abu Dhabi Investment Authority (ADIA), United Arab Emirates

website: www.adia.ae

ASSETS: $500 billion to $1 trillion

Established in 1976, ADIA's mission is to secure and maintain the future prosperity of the Emirate of Abu Dhabi. ADIA is the largest shareholder in two of UAE's largest banks, National Bank of Abu Dhabi and Abu Dhabi Commercial Bank.

MANAGEMENT: UAE President Sheikh Khalifa bin Zayed Al Nahyan chairs the fund.

TRANSPARENCY: ADIA does not disclose its total assets and does not regularly disclose its investment activity.

RECENT ACTIVITY:

Sheikh Khalifa said in a June interview with Lebanon's al-Nahar newspaper that ADIA had less than $800 billion in overseas investments, contrary to many estimates.

The fund invested $7.5 billion in Citigroup (C.N) in November 2007.

2. Government Pension Fund - Global, Norway

website: www.regjeringen.no/en/dep/fin/Selected-topics/The-Government-Pen

sion-Fund.html ASSETS: $375 billion

Formed in 1990, the Government Pension Fund - Global, previously called the Petroleum Fund, was set up to facilitate government savings necessary to meet public pension expenditures in coming years, and to support long-term management of petroleum revenues.

MANAGEMENT: The operational management of the fund is carried out by Norges Bank, which invests the fund's capital in bonds and equities outside of Norway.  Continued...

 

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