SovereignWealthFunds.comTurks and Caicos National Wealth Fund
Turks and Caicos National Wealth Fund: what it invests in
Geography Mainly domestic
Turks and Caicos National Wealth Fund: how big it is, and on what basis
In US dollars: about USD 0.098B. Reported in US dollars.
Turks and Caicos National Wealth Fund: what it publishes
Published 1 · Partly 4 · Not published 5
Our 10 item score. It measures what is public, not how well a fund is run.
At a glance. The Turks and Caicos National Wealth Fund saves surplus government revenue for the British overseas territory. Set up by an Ordinance of 2017, it splits money across stabilisation, infrastructure and heritage sub-funds. The Premier told Parliament in July 2026 that it held USD 98 million. Its first disclosed investment, in 2024, was a residence at the Andaz Turks and Caicos in Grace Bay. S1 S3 S4
Key points
- Held USD 98 million in July 2026, within government cash of USD 435.6 million. S4
- Up from about USD 43.8 million in the 2022-23 third quarter and USD 25.9 million in March 2022. S5 S1
- Three sub-funds: Stabilisation, Infrastructure and Competitiveness, and Heritage. S1
- Goals: an alternative income stream, large infrastructure projects and a buffer against shocks or natural disasters. S3
- Balances appear in quarterly Ministry of Finance fiscal reports. S5 S6
- Board includes the Finance Permanent Secretary, the Attorney General and up to five private sector members. S1
Interesting facts
Mandate and goals
The NWF saves and invests surplus revenue to build another source of income, funds major infrastructure, and gives the islands a cushion against economic shocks or hurricanes. S3 S1
How it invests
| Industries | Real estate, Tourism and hospitality, Infrastructure and utilities S3 |
|---|---|
| Asset classes | Cash and money markets, Real estate S3 S4 |
| Stages | Real estate S3 |
| Geography | Mainly domestic. Disclosed investment is local S3 |
| Direct / through funds / co-invest | Yes / No / No S3 |
| Ticket size | No ticket size is published. S3 |
| External managers | Not disclosed S5 |
| Co-investment programme | No programme. S3 |
Past investments
| Year | Investment | Type | Sector | Stage | Amount |
|---|---|---|---|---|---|
| 2024 | Andaz Turks and Caicos Residences, Grace Bay. Studio residence bought from Vista Development; the first real estate investment. S3 S7 | Direct investment | Real estate | Real estate | Not published |
| 2026 | Fund balance build-up. Surplus revenue saved; balance reported to Parliament in July 2026. S4 | State asset transfer | Financial services | Not stated | USD 98M balance |
Case studies
First real estate investment S3 S7
- What: Bought a studio residence at the Andaz Turks and Caicos Residences, a 59-key resort with 73 homes due to open in 2026.
- When: July 2024
- Size: Not published
- Why: The board vetted the project against the fund's core criteria and agreed pricing and terms with the developer.
- Outcome: The chair said it set a precedent for future investments.
Investment process
The board manages and oversees the fund. It has the Permanent Secretary Finance, the Attorney General, nominees of the Governor and of the Leader of the Opposition, and up to five private sector members; the Finance Minister appoints them and picks the chair. S1
| Committee | Role |
|---|---|
| Board of Directors | Management and oversight S1 |
How to approach: Contact the Ministry of Finance, Investment and Trade, which oversees the fund. S1
Size and returns
Leadership
Governance and transparency
- Legal basis: Turks and Caicos National Wealth Fund Ordinance 7 of 2017 S1
- Oversight: Ministry of Finance, Investment and Trade; expenses voted by the House of Assembly S1
- Private sector board members need seven years of standing in fields such as investment, law or audit. S1
Transparency score: 3.0 of 10 (band 2 of 5). Our own 10-item rubric; see the methodology page.
History
For family offices
The fund runs no co-investment programme; the Andaz deal was a single purchase from a developer. S3
Reports
- Fiscal and Strategic Policy Statement 2026-27: https://gov.tc/mof/wp-content/uploads/2026/05/Approved-FSPS-2026-27.pdf S6
- Quarterly fiscal report, 2022-23 third quarter: https://gov.tc/mof/wp-content/uploads/2025/10/2022-2023-3rd-Quarter.pdf S5
Common questions
How big is the fund?
USD 98 million, per the Premier in July 2026. S4
How is it structured?
Three sub-funds: Stabilisation, Infrastructure and Competitiveness, and Heritage. S1
What has it invested in?
Its first disclosed investment was a residence at the Andaz Turks and Caicos, in 2024. S3
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- Heritage and Stabilisation Fund (Trinidad and Tobago) Trinidad and Tobago · USD 6.25B
All sovereign wealth funds in Latin America and Caribbean · All savings and future generations funds · All funds in Turks and Caicos Islands
Sources
- S1TCI Government, request for expressions of interest for NWF board
- S2IFSWF, members list
- S3TC Weekly News, NWF makes first real estate investment
- S4SUN TCI, Premier on TCI cash reserves
- S5TCI Ministry of Finance, fiscal report 2022-23 third quarter
- S6TCI Ministry of Finance, Fiscal and Strategic Policy Statement 2026-27
- S7Travel Dreams Magazine, NWF announces Andaz Turks and Caicos investment
Disclaimer
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