Sovereign wealth funds by tier

Tiers are how we sort the 231 entities on our list by what they are, not by size.

• Core national funds (78): national government funds investing for the long term.
• Sub-national funds (56): funds owned by states, provinces, regions and cities, 29 of them in the United States.
• Holding and development funds (67): state holding companies, strategic funds and development investors.
• Central bank reserve arms (5): long-term portfolios run inside a central bank or monetary authority.
• Pipeline (25): funds that are proposed, passed into law but not yet capitalised, or in set-up.

Tiers answer a common question: "how many sovereign wealth funds are there?" The honest answer is 78, 134, 206 or 231, depending on how many of these layers you count. Each tier page lists its funds with sources, and each profile explains why the fund sits in its tier.