Russian National Wealth Fund
From Wikipedia, the free encyclopedia
| Russian National Wealth Fund | |
|---|---|
| Type | Sovereign Wealth Fund |
| Founded | 2008 |
| Headquarters | |
| Total assets | $32.6 billion[1] |
| Website | http://www1.minfin.ru/en/nationalwealthfund/ |
Russian National Wealth Fund is Russia's Sovereign Wealth Fund. It was created after theStabilization Fund of the Russian Federation was split into two separate investment funds on January 30, 2008. The two funds are Reserve Fund, which is invested abroad in low-yield securities and used when oil and gas incomes fall, and the National Wealth Fund, which invests in riskier, higher return vehicles, as well as federal budget expenditures. The Reserve Fund was given $125 billion and the National Welfare Fund was given $32 billion. The fund is controlled by the Ministry of Finance.
The National Wealth Fund will receive funds from investments returns or any excess funds that the Reserve Fund produces. The Reserve Fund is capped at 10% of Russian GDP and any funds over that will be given to the Wealth Fund.
