MOSCOW Aug 13 Russia may expand the list of
assets where it may invest state cash by adding new positions to
National Welfare Fund (NWF) investments, draft proposals
published by the Finance Ministry showed on Tuesday.
The fund, which stood at 2.86 trillion roubles ($86.7
billion) as of Aug. 1, may already be invested in euros, U.S.
dollars, pounds or the treasury bonds of 13 countries, including
the United States, Canada, European Union.
The Finance Ministry has suggested adding Australian and
Canadian dollars, Swiss francs and Japanese yen as well as the
treasury bonds of Australia, Switzerland and Japan.
Russia's central bank manages the NWF, the funds of which
are formed from extra oil revenues.
It is unclear when these proposals could be accepted or how
much the fund would invest in each asset. The Russian central
bank already invests part of its gold and foreign exchange
reserves - now at $509.4 billion - into different currencies.
The Russian central bank's foreign currency reserves
comprised 45.8 percent in U.S. dollar holdings and 40.4 percent
in euros as of Jan. 1.
The British pound accounted for 9.2 percent, the Canadian
dollar's portion stood at 2.5 percent. Reserves are also
invested into yen and the Australian dollar. ($1 = 32.9860
(Reporting by Oksana Kobzeva; writing by Katya Golubkova;
editing by Ron Askew)