MOSCOW, Aug 13 (Reuters) - 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 Russian roubles) (Reporting by Oksana Kobzeva; writing by Katya Golubkova; editing by Ron Askew)