Sovereign wealth fund transparency
How open is each sovereign wealth fund? We check 10 things a fund can publish: total assets, annual return, long-term returns, asset allocation, a geographic or sector split, holdings, audited statements, governance documents, named leaders and a regular reporting schedule. Each item scores 0, 0.5 or 1, with a date and an evidence link.
This is our own editorial rubric. It is not any outside index or score. It measures what the public can see, not how well a fund is run.
Some patterns from our item scores across 206 operating funds: governance and mandate documents and named leaders are almost always public, while 52.4% publish no long-term return figure and 35.4% publish no annual return. Bigger funds score somewhat higher on average, mainly among funds that publish their own size; funds whose size is known only from press reports or estimates score far lower.
On this site you will find the disclosure walls, transparency by region and size versus transparency.
All funds by transparency score (231)
| # | Fund | Country | Type | Size, as published | Transparency | Founded |
|---|---|---|---|---|---|---|
| 1 | Alaska Permanent Fund | United States (Alaska) North America | Sub-national permanent fund | USD 91.9B Fund market value, | 10.0 | 1976 |
| 2 | Canada Pension Plan Investment Board | Canada North America | Pension reserve fund | C$863.6B Net assets or equity, | 10.0 | 1997 |
| 3 | Government Pension Fund Global (Norway) | Norway Europe | Savings and future generations fund | NOK 22,683B Fund market value, | 10.0 | 1990 |
| 4 | KENFO, Nuclear Waste Disposal Fund (Germany) | Germany Europe | Savings and future generations fund | EUR 25,577M Fund market value, | 10.0 | 2017 |
| 5 | Solidium Oy | Finland Europe | State holding company | EUR 9.1B (end 2025) Portfolio value | 10.0 | 2008 |
| 6 | Temasek Holdings | Singapore Asia | State holding company | S$518B Portfolio value, | 10.0 | 1974 |
| 7 | Timor-Leste Petroleum Fund | Timor-Leste Australia and Pacific | Savings and future generations fund | USD 18.61B Fund market value, | 10.0 | 2005 |
| 8 | Baiterek National Investment Holding | Kazakhstan Asia | Strategic development fund | KZT 19,047.6B Total assets (balance sheet), | 9.5 | 2013 |
| 9 | Citizens Fund (Israel) | Israel Middle East | Savings and future generations fund | USD 2.79B Net assets or equity, | 9.5 | 2014 |
| 10 | Fondo de Ahorro de Panama (Panama Savings Fund) | Panama Latin America and Caribbean | Savings and future generations fund | B/. 3,084.8M (USD 3.08B) Net assets or equity, | 9.5 | 2012 |
| 11 | Government Pension Investment Fund (GPIF) | Japan Asia | Pension reserve fund | JPY 293.6T Fund market value, | 9.5 | 2006 |
| 12 | Gulf Investment Corporation (GIC), Kuwait | Kuwait Middle East | Strategic development fund | USD 3.50B Total assets (balance sheet), | 9.5 | 1983 |
| 13 | Luxembourg Intergenerational Sovereign Fund (FSIL) | Luxembourg Europe | Savings and future generations fund | EUR 784.3M (end 2025) Total assets (balance sheet) | 9.5 | 2014 |
| 14 | National Development and Social Fund (Malta) | Malta Europe | Strategic development fund | EUR 846.7M Net assets or equity, | 9.5 | 2015 |
| 15 | New Zealand Superannuation Fund | New Zealand Australia and Pacific | Pension reserve fund | NZ$94.4B Fund market value, | 9.5 | 2001 |
| 16 | Tesi (Finnish Industry Investment Ltd) | Finland Europe | Fund of funds or co-investment platform | EUR 3.2B Assets under management, | 9.5 | 1995 |
| 17 | Texas Permanent School Fund | United States (Texas) North America | Sub-national permanent fund | USD 60.6B Net assets or equity, | 9.5 | 1845 |
| 18 | Bpifrance | France Europe | Strategic development fund | EUR 106.3B Total assets (balance sheet), | 9.0 | 2012 |
| 19 | British Business Bank | United Kingdom Europe | Strategic development fund | GBP 6.01B Total assets (balance sheet), | 9.0 | 2014 |
| 20 | British International Investment (BII) | United Kingdom Europe | Strategic development fund | GBP 6,641.2M Portfolio value, | 9.0 | 1948 |
| 21 | Crown Investments Corporation of Saskatchewan (CIC) | Canada (Saskatchewan) North America | State holding company | C$26,852.8M Total assets (balance sheet), | 9.0 | 1947 |
| 22 | Economic and Social Stabilization Fund (FEES), Chile | Chile Latin America and Caribbean | Stabilisation fund | USD 3,885.14M Fair value of state company holdings, | 9.0 | 2007 |
| 23 | Folketrygdfondet (Government Pension Fund Norway) | Norway Europe | Pension reserve fund | NOK 429B Assets under management, | 9.0 | 1967 |
| 24 | Fundo de Equalizacao da Receita de Niteroi | Brazil (Niteroi, Rio de Janeiro state) Latin America and Caribbean | Sub-national permanent fund | BRL 1.75B Net assets or equity, | 9.0 | 2019 |
| 25 | Future Fund (Australia) | Australia Australia and Pacific | Pension reserve fund | A$289.7B Net assets or equity, | 9.0 | 2006 |
| 26 | Ghana Petroleum Funds (Ghana Stabilisation Fund and Ghana Heritage Fund) | Ghana Africa | Stabilisation fund | USD 1.64B (30 June 2026) Fund market value, | 9.0 | 2011 |
| 27 | Heritage and Stabilisation Fund (Trinidad and Tobago) | Trinidad and Tobago Latin America and Caribbean | Stabilisation fund | USD 6.25B Net assets or equity, | 9.0 | 2007 |
| 28 | Indonesia Investment Authority | Indonesia Asia | Strategic development fund | Rp111.0tn Total assets (balance sheet), | 9.0 | 2021 |
| 29 | Ireland Strategic Investment Fund (ISIF) | Ireland Europe | Strategic development fund | EUR 16.1B Net assets or equity, | 9.0 | 2014 |
| 30 | Khazanah Nasional Berhad | Malaysia Asia | State holding company | RM156B Total assets (balance sheet), | 9.0 | 1993 |
| 31 | Mubadala Investment Company | United Arab Emirates (Abu Dhabi) Middle East | Strategic development fund | AED 1,414B Assets under management, | 9.0 | 2002 |
| 32 | National Wealth Fund | United Kingdom Europe | Strategic development fund | GBP 27.8B Committed or authorised capital, | 9.0 | 2021 |
| 33 | New Mexico State Investment Council (SIC) | United States (New Mexico) North America | Sub-national permanent fund | USD 74.63B Net assets or equity, | 9.0 | 1957 |
| 34 | North Dakota Legacy Fund | United States (North Dakota) North America | Sub-national permanent fund | USD 15.10B Net assets or equity, | 9.0 | 2010 |
| 35 | Pension Reserve Fund (Fondo de Reserva de Pensiones) | Chile Latin America and Caribbean | Pension reserve fund | USD 10.71B Fund market value, | 9.0 | 2006 |
| 36 | State Oil Fund of the Republic of Azerbaijan (SOFAZ) | Azerbaijan Asia | Savings and future generations fund | USD 72.6B Total assets (balance sheet), | 9.0 | 1999 |
| 37 | Texas Permanent University Fund (PUF) | United States (Texas) North America | Sub-national permanent fund | USD 40.29B Net assets or equity, | 9.0 | 1876 |
| 38 | U.S. International Development Finance Corporation | United States North America | Strategic development fund | USD 23.6B total assets Total assets (balance sheet), | 9.0 | 2019 |
| 39 | Alabama Trust Fund | United States (Alabama) North America | Sub-national permanent fund | USD 4.19B Fund market value, | 8.5 | 1985 |
| 40 | Alberta Heritage Savings Trust Fund | Canada (Alberta) North America | Sub-national permanent fund | C$31.9B Net assets or equity, | 8.5 | 1976 |
| 41 | Future Ireland Fund | Ireland Europe | Savings and future generations fund | EUR 12.7B Fund market value, | 8.5 | 2024 |
| 42 | Growthfund (Hellenic Corporation of Assets and Participations S.A.) | Greece Europe | State holding company | EUR 12.3B AUM (2024) Assets under management, | 8.5 | 2016 |
| 43 | Idaho Endowment Fund Investment Board (EFIB) | United States (Idaho) North America | Sub-national permanent fund | USD 3,588.7M Fund market value, | 8.5 | 1969 |
| 44 | Infrastructure, Climate and Nature Fund | Ireland Europe | Stabilisation fund | About EUR 4.1B (end 2025) Fund market value, | 8.5 | 2024 |
| 45 | Investissement Québec | Canada (Quebec) North America | Strategic development fund | C$5.1B equity (31 March 2026) Net assets or equity, | 8.5 | 1998 |
| 46 | Korea Investment Corporation | South Korea Asia | Reserve investment corporation | USD 232.0B Assets under management, | 8.5 | 2005 |
| 47 | National Wealth Fund of the Russian Federation | Russia Europe | Stabilisation fund | RUB 13,194.9B Fund market value, | 8.5 | 2008 |
| 48 | Natural Resource Fund (Guyana) | Guyana Latin America and Caribbean | Savings and future generations fund | USD 4.29B Fund market value, | 8.5 | 2019 |
| 49 | NSW Treasury Corporation (TCorp) | Australia (New South Wales) Australia and Pacific | Sub-national permanent fund | A$118.6B Assets under management, | 8.5 | 1983 |
| 50 | Oesterreichische Beteiligungs AG (OBAG) | Austria Europe | State holding company | EUR 30.05B Portfolio value, | 8.5 | 1967 |
| 51 | Palestine Investment Fund P.L.C. | Palestine Middle East | Strategic development fund | USD 935.3M total assets (end 2025) Total assets (balance sheet), | 8.5 | 2003 |
| 52 | Parpublica (Portugal) | Portugal Europe | State holding company | EUR 10.82B Total assets (balance sheet), | 8.5 | 2000 |
| 53 | Permodalan Nasional Berhad (PNB) | Malaysia Asia | State holding company | RM365.3B Assets under management, | 8.5 | 1978 |
| 54 | Royal Bafokeng Holdings | South Africa (Royal Bafokeng Nation, North West province) Africa | Savings and future generations fund | R66B Net assets or equity, | 8.5 | 2006 |
| 55 | Samruk-Kazyna JSC | Kazakhstan Asia | State holding company | KZT 44.2T Total assets (balance sheet), | 8.5 | 2008 |
| 56 | Slovenian Sovereign Holding | Slovenia Europe | State holding company | EUR 14.0B Portfolio value, | 8.5 | 2014 |
| 57 | State Capital Investment Corporation | Vietnam Asia | State holding company | VND 72,474bn total assets (end 2025) Total assets (balance sheet), | 8.5 | 2005 |
| 58 | Utah School and Institutional Trust Funds Office (SITFO) | United States (Utah) North America | Sub-national permanent fund | USD 4.05B Net assets or equity, | 8.5 | 2014 |
| 59 | Victorian Funds Management Corporation (VFMC) | Australia (Victoria) Australia and Pacific | Sub-national permanent fund | AUD 95.3B Assets under management, | 8.5 | 1994 |
| 60 | Caisse des Depots et Consignations Tunisia | Tunisia Africa | Strategic development fund | TND 13.52B Total assets (balance sheet), | 8.0 | 2011 |
| 61 | China Investment Corporation | China Asia | Reserve investment corporation | USD 1,567B Total assets (balance sheet), | 8.0 | 2007 |
| 62 | COFIDES (Spanish Development Finance Company) | Spain Europe | Strategic development fund | EUR 6.0B Assets under management, | 8.0 | 1988 |
| 63 | Export and Investment Fund of Denmark (EIFO) | Denmark Europe | Strategic development fund | DKK 76.5B Total assets (balance sheet), | 8.0 | 2022 |
| 64 | Fiscal Stabilization Fund of Peru | Peru Latin America and Caribbean | Stabilisation fund | USD 3,214.38M Fund market value, | 8.0 | 1999 |
| 65 | Hong Kong Monetary Authority Exchange Fund | Hong Kong SAR, China Asia | Reserve investment corporation | HKD 4,463.6B Total assets (balance sheet), | 8.0 | 1935 |
| 66 | Investment Corporation of Dubai (ICD) | United Arab Emirates (Dubai) Middle East | State holding company | AED 1,680B Total assets (balance sheet), | 8.0 | 2006 |
| 67 | Mexican Petroleum Fund for Stabilization and Development | Mexico Latin America and Caribbean | Savings and future generations fund | USD 1,192.3M Fund market value, | 8.0 | 2013 |
| 68 | Mutapa Investment Fund (Zimbabwe) | Zimbabwe Africa | State holding company | USD 16.5B Total assets (balance sheet), | 8.0 | 2014 |
| 69 | National Council for Social Security Fund (NSSF) | China Asia | Pension reserve fund | RMB 3,808B Total assets (balance sheet), | 8.0 | 2000 |
| 70 | National Development Fund (Taiwan) | Taiwan Asia | Strategic development fund | NT$2,098.5B Total assets (balance sheet), | 8.0 | 2006 |
| 71 | Nigeria Sovereign Investment Authority | Nigeria Africa | Strategic development fund | USD 3.40B NAV Net assets or equity, | 8.0 | 2011 |
| 72 | Public Investment Fund (PIF) | Saudi Arabia Middle East | Strategic development fund | SAR 3,396B Assets under management, | 8.0 | 1971 |
| 73 | Queensland Investment Corporation | Australia (Queensland) Australia and Pacific | Sub-national permanent fund | A$131.6B gross AUM Assets under management | 8.0 | 1991 |
| 74 | Sovereign Private Investment Guarantee Fund of Cabo Verde | Cape Verde Africa | Strategic development fund | ECV 11.55B Total assets (balance sheet), | 8.0 | 2019 |
| 75 | CDP Equity S.p.A. | Italy Europe | Strategic development fund | EUR 12.44B total assets Total assets (balance sheet), | 7.5 | 2011 |
| 76 | Druk Holding and Investments | Bhutan Asia | State holding company | Nu 402.17B Total assets (balance sheet), | 7.5 | 2007 |
| 77 | Fundo Soberano de Angola (FSDEA) | Angola Africa | Savings and future generations fund | USD 4.72B Total assets (balance sheet), | 7.5 | 2011 |
| 78 | Fundo Soberano de Mocambique (FSM) | Mozambique Africa | Savings and future generations fund | USD 144.4M Fund market value, | 7.5 | 2024 |
| 79 | Fundo Soberano do Estado do Espirito Santo (FUNSES) | Brazil (Espírito Santo) Latin America and Caribbean | Strategic development fund | R$ 2.93B Fund market value, | 7.5 | 2019 |
| 80 | Ghana Infrastructure Investment Fund | Ghana Africa | Strategic development fund | GHS 7.83B Total assets (balance sheet), | 7.5 | |
| 81 | Intergenerational Trust Fund for the People of the Republic of Nauru | Nauru Australia and Pacific | Savings and future generations fund | A$421.8M investments (30 June 2025) Portfolio value | 7.5 | 2015 |
| 82 | Mauritius Investment Corporation Ltd (MIC) | Mauritius Africa | Strategic development fund | MUR 57.5B Committed or authorised capital, | 7.5 | 2020 |
| 83 | Micronesia and Marshall Islands Trust Funds | Micronesia and Marshall Islands Australia and Pacific | Savings and future generations fund | USD 3.78B Net assets or equity, | 7.5 | 2004 |
| 84 | Mumtalakat Holding Company | Bahrain Middle East | State holding company | BHD 7.22B Total assets (balance sheet), | 7.5 | 2006 |
| 85 | National Fund of the Republic of Kazakhstan | Kazakhstan Asia | Savings and future generations fund | USD 73.8B Fund market value, | 7.5 | 2000 |
| 86 | Northwest Territories Heritage Fund | Canada (Northwest Territories) North America | Sub-national permanent fund | C$52.5M (31 March 2025) Net assets or equity, | 7.5 | 2012 |
| 87 | Oman Investment Authority (OIA) | Oman Middle East | Strategic development fund | OMR 22.922B Total assets (balance sheet), | 7.5 | 2020 |
| 88 | Oregon Common School Fund | United States (Oregon) North America | Sub-national permanent fund | USD 2,878.1M Fair value of state company holdings, | 7.5 | 1859 |
| 89 | Pula Fund (Botswana, Bank of Botswana) | Botswana Africa | Savings and future generations fund | BWP 27.87B Fund market value, | 7.5 | 1994 |
| 90 | Washington Permanent Common School Fund | United States (Washington) North America | Sub-national permanent fund | USD 292.1M (31 March 2026) Fund market value, | 7.5 | |
| 91 | ADQ and L'IMAD Holding | United Arab Emirates (Abu Dhabi) Middle East | State holding company | AED 996.8B Total assets (balance sheet), | 7.0 | 2018 |
| 92 | Agaciro Development Fund | Rwanda Africa | Strategic development fund | FRW 456B Assets under management | 7.0 | 2012 |
| 93 | Deposit and Consignment Fund of Benin | Benin Africa | Strategic development fund | XOF 1,062B Total assets (balance sheet), | 7.0 | 2018 |
| 94 | Federal Holding and Investment Company (SFPIM / FPIM), Belgium | Belgium Europe | State holding company | EUR 11,679M Total assets (balance sheet), | 7.0 | 1962 |
| 95 | Fonds Gabonais d'Investissements Strategiques | Gabon Africa | Strategic development fund | About USD 1.9B Portfolio value, | 7.0 | 2012 |
| 96 | GIC Private Limited | Singapore Asia | Reserve investment corporation | About USD 1.16T Estimate Published estimate, | 7.0 | 1981 |
| 97 | Libyan Investment Authority | Libya Africa | Savings and future generations fund | About USD 51.8B (direct portfolio incl. cash) Portfolio value, | 7.0 | 2006 |
| 98 | NSW Generations Fund | Australia (New South Wales) Australia and Pacific | Sub-national permanent fund | A$18.921B Fund market value, | 7.0 | 2018 |
| 99 | Polish Development Fund (PFR) | Poland Europe | Strategic development fund | PLN 49.77B Total assets (balance sheet), | 7.0 | 2012 |
| 100 | Sociedad Estatal de Participaciones Industriales | Spain Europe | State holding company | EUR 15.01B Portfolio value, | 7.0 | 1995 |
| 101 | Turkiye Wealth Fund (TWF) | Turkiye Europe | State holding company | TRY 18,997B Total assets (balance sheet), | 7.0 | 2016 |
| 102 | Alaska Mental Health Trust Authority Trust Fund | United States (Alaska) North America | Sub-national permanent fund | USD 754.5M Fund market value, | 6.5 | 1994 |
| 103 | Bahrain Future Generations Reserve Fund | Bahrain Middle East | Savings and future generations fund | USD 1.11B Total assets (balance sheet), | 6.5 | 2006 |
| 104 | Beijing State-owned Assets Management Co., Ltd. | China (Beijing) Asia | State holding company | RMB 171.92B total assets Total assets (balance sheet), | 6.5 | 1992 |
| 105 | Chinggis Khaan Sovereign Wealth Fund (Mongolia) | Mongolia Asia | Savings and future generations fund | MNT 7.5T Fund market value, | 6.5 | 2025 |
| 106 | Japan Investment Corporation (JIC) | Japan Asia | Strategic development fund | JPY 2.60T Committed or authorised capital, | 6.5 | 2018 |
| 107 | JSC Development Fund of Georgia (DFG) Dormant | Georgia Asia | Strategic development fund | GEL 473.1M Total assets (balance sheet), | 6.5 | 2011 |
| 108 | Maharlika Investment Corporation (MIC) | Philippines Asia | Strategic development fund | PHP 128.23B Total assets (balance sheet), | 6.5 | 2023 |
| 109 | Malta Government Investments | Malta Europe | State holding company | EUR 44.9M Total assets (balance sheet), | 6.5 | 2014 |
| 110 | Minnesota Permanent School Fund | United States (Minnesota) North America | Sub-national permanent fund | USD 2.40B (31 March 2026) Fund market value, | 6.5 | |
| 111 | Montana Coal Severance Tax Trust Fund | United States (Montana) North America | Sub-national permanent fund | USD 1,323.3M Fair value of state company holdings, | 6.5 | |
| 112 | National Fund for Hydrocarbon Revenues (Mauritania) | Mauritania Africa | Stabilisation fund | USD 214.5M Total assets (balance sheet), | 6.5 | 2006 |
| 113 | Native Hawaiian Trust Fund (Office of Hawaiian Affairs) | United States (Hawaii) North America | Sub-national permanent fund | USD 656M Fund market value, | 6.5 | 1978 |
| 114 | Permanent Wyoming Mineral Trust Fund | United States (Wyoming) North America | Sub-national permanent fund | USD 13.02B Fund market value, | 6.5 | 1974 |
| 115 | Quebec Generations Fund | Canada (Quebec) North America | Sub-national permanent fund | C$16.64B Fund market value, | 6.5 | 2006 |
| 116 | Wyoming Common School Permanent Land Fund | United States (Wyoming) North America | Sub-national permanent fund | USD 6.62B Fair value of state company holdings, | 6.5 | |
| 117 | Constitutional Reserve Fund | Monaco Europe | Reserve investment corporation | EUR 7.28B Total assets (balance sheet), | 6.0 | 1962 |
| 118 | Hong Kong Investment Corporation (HKIC) | Hong Kong SAR, China Asia | Strategic development fund | HK$62B Committed or authorised capital | 6.0 | 2022 |
| 119 | National Investment and Infrastructure Fund (NIIF), India | India Asia | Strategic development fund | USD 5B+ Committed or authorised capital, | 6.0 | 2015 |
| 120 | North Dakota Common Schools Trust Fund | United States (North Dakota) North America | Sub-national permanent fund | USD 8.87B Total assets (balance sheet), | 6.0 | 1889 |
| 121 | Oklahoma Commissioners of the Land Office | United States (Oklahoma) North America | Sub-national permanent fund | USD 2.96B Fund market value, | 6.0 | 1907 |
| 122 | Tuvalu Trust Fund | Tuvalu Australia and Pacific | Savings and future generations fund | AUD 311.4M Fund market value, | 6.0 | 1987 |
| 123 | Abu Dhabi Investment Authority (ADIA) | United Arab Emirates (Abu Dhabi) Middle East | Savings and future generations fund | About USD 1.1T Estimate Published estimate, | 5.5 | 1976 |
| 124 | Armed Forces Fund Board | Malaysia Asia | Pension reserve fund | RM13.36B Assets under management, | 5.5 | 1972 |
| 125 | Budgetary Income Stabilization Fund | Mexico Latin America and Caribbean | Stabilisation fund | MXN 136.6B Fund market value, | 5.5 | 2000 |
| 126 | Colorado Public School Fund Investment Board | United States (Colorado) North America | Sub-national permanent fund | USD 1.85B Fund market value, | 5.5 | |
| 127 | Dakota Cement Trust (South Dakota) | United States (South Dakota) North America | Sub-national permanent fund | USD 392.3M Fund market value, | 5.5 | 2001 |
| 128 | Ethiopian Investment Holdings | Ethiopia Africa | State holding company | About USD 45B Estimate Published estimate, | 5.5 | 2021 |
| 129 | Fonds Souverain d'Investissements Strategiques | Senegal Africa | Strategic development fund | Not disclosed Estimate Published estimate, | 5.5 | 2012 |
| 130 | Fund for Reconstruction and Development of the Republic of Uzbekistan | Uzbekistan Asia | Strategic development fund | Not disclosed Total assets (balance sheet) | 5.5 | 2006 |
| 131 | Kahnawake Sovereign Wealth Fund | Canada (Kahnawake Mohawk Territory, Quebec) North America | Sub-national permanent fund | CAD 40.4M Fund market value, | 5.5 | 2024 |
| 132 | Nebraska Permanent School Fund (Board of Educational Lands and Funds) | United States (Nebraska) North America | Sub-national permanent fund | USD 1,081.3M Fair value of state company holdings, | 5.5 | 1867 |
| 133 | Nunavut Trust | Canada (Nunavut) North America | Sub-national permanent fund | C$2.07B Net assets or equity, | 5.5 | 1990 |
| 134 | Oklahoma Tobacco Settlement Endowment Trust | United States (Oklahoma) North America | Sub-national permanent fund | USD 1.72B Fund market value, | 5.5 | 2000 |
| 135 | Revenue Equalization Reserve Fund | Kiribati Australia and Pacific | Savings and future generations fund | A$1.74B Fund market value, | 5.5 | 1956 |
| 136 | SAMA Foreign Holdings | Saudi Arabia Middle East | Reserve investment corporation | SAR 1,827B Total assets (balance sheet) | 5.5 | 1952 |
| 137 | Savings and Stabilization Fund (FAE), Colombia | Colombia Latin America and Caribbean | Stabilisation fund | USD 4,588.5M Total assets (balance sheet), | 5.5 | 2012 |
| 138 | Welwitschia Fund (Sovereign Wealth Fund for Namibia) | Namibia Africa | Savings and future generations fund | N$508.47M (31 July 2026) Fund market value, | 5.5 | 2022 |
| 139 | Western Australian Future Fund | Australia (Western Australia) Australia and Pacific | Sub-national permanent fund | A$1.90B Portfolio value, | 5.5 | 2012 |
| 140 | Abu Dhabi Fund for Development | United Arab Emirates (Abu Dhabi) Middle East | Strategic development fund | Not disclosed Total assets (balance sheet), | 5.0 | 1971 |
| 141 | Ithmar Capital | Morocco Africa | Strategic development fund | Not disclosed Total assets (balance sheet) | 5.0 | 2011 |
| 142 | Louisiana Education Quality Trust Fund (8(g)) | United States (Louisiana) North America | Sub-national permanent fund | USD 1,768.5M Fund market value, | 5.0 | 1986 |
| 143 | MGX | United Arab Emirates (Abu Dhabi) Middle East | Strategic development fund | USD 49B Committed or authorised capital, | 5.0 | 2024 |
| 144 | Michigan Natural Resources Trust Fund | United States (Michigan) North America | Sub-national permanent fund | USD 725.6M Estimate Published estimate, | 5.0 | 1976 |
| 145 | North Dakota Strategic Investment and Improvements Fund (SIIF) | United States (North Dakota) North America | Strategic development fund | USD 1.16B Fund market value, | 5.0 | 2011 |
| 146 | Taiwan National Stabilization Fund | Taiwan Asia | Stabilisation fund | NT$500B funding ceiling Committed or authorised capital, | 5.0 | 2000 |
| 147 | Tamilnadu Industrial Development Corporation Ltd (TIDCO) | India (Tamil Nadu) Asia | State holding company | INR 103,607 crore Fair value of state company holdings, | 5.0 | 1965 |
| 148 | Wisconsin Board of Commissioners of Public Lands (Common School Fund) | United States (Wisconsin) North America | Sub-national permanent fund | USD 1.56B (30 June 2025) Total assets (balance sheet), | 5.0 | 1848 |
| 149 | Arizona Permanent Land Endowment Trust Fund | United States (Arizona) North America | Sub-national permanent fund | USD 11.4B Fund market value, | 4.5 | 1912 |
| 150 | Dubai Holding | United Arab Emirates (Dubai) Middle East | State holding company | AED 500B Assets under management | 4.5 | 2004 |
| 151 | Espana Crece (ICO programme) | Spain Europe | Strategic development fund | EUR 13.3B Committed or authorised capital, | 4.5 | 2026 |
| 152 | Marica Sovereign Fund | Brazil (Marica, Rio de Janeiro) Latin America and Caribbean | Sub-national permanent fund | R$ 2.10B Fund market value, | 4.5 | 2017 |
| 153 | National Made in Italy Fund (FNMI) | Italy Europe | Strategic development fund | EUR 900M Committed or authorised capital, | 4.5 | 2023 |
| 154 | Texas Economic Stabilization Fund (Rainy Day Fund) | United States (Texas) North America | Stabilisation fund | USD 24.8B Fund market value, | 4.5 | 1988 |
| 155 | Wallonie Entreprendre | Belgium (Walloon Region) Europe | Strategic development fund | EUR 4.98B equity (31 Dec 2025) Net assets or equity, | 4.5 | 2023 |
| 156 | Azerbaijan Investment Holding | Azerbaijan Asia | State holding company | Not published Total assets (balance sheet) | 4.0 | 2020 |
| 157 | Danantara Indonesia | Indonesia Asia | State holding company | About USD 900B to USD 1T (unaudited) Estimate Published estimate, | 4.0 | 2025 |
| 158 | Hong Kong Future Fund | Hong Kong SAR, China Asia | Savings and future generations fund | HK$235.1B Fund market value, | 4.0 | 2016 |
| 159 | Lunate | United Arab Emirates (Abu Dhabi) Middle East | Fund of funds or co-investment platform | More than USD 115B Assets under management, | 4.0 | 2023 |
| 160 | Mohammed VI Investment Fund (FM6I) | Morocco Africa | Strategic development fund | MAD 15B initial capital Committed or authorised capital | 4.0 | 2020 |
| 161 | National Development Fund (NDF) | Saudi Arabia Middle East | Strategic development fund | About SAR 430B Committed or authorised capital, | 4.0 | 2017 |
| 162 | National Investment Corporation of the National Bank of Kazakhstan | Kazakhstan Asia | Reserve investment corporation | USD 3.4B Assets under management, | 4.0 | 2012 |
| 163 | Petroleum Revenue Investment Reserve (Uganda) | Uganda Africa | Savings and future generations fund | UGX 212.6B Fund market value, | 4.0 | 2015 |
| 164 | Qatar Investment Authority (QIA) | Qatar Middle East | Savings and future generations fund | About USD 580B Estimate Published estimate, | 4.0 | 2005 |
| 165 | The Sovereign Fund of Egypt | Egypt Middle East | Strategic development fund | Not disclosed Estimate Published estimate | 4.0 | 2018 |
| 166 | Wafra | Kuwait Middle East | State holding company | KD 119.0M Net assets or equity, | 4.0 | 1994 |
| 167 | XRG, ADNOC international investment company (Abu Dhabi) | United Arab Emirates (Abu Dhabi) Middle East | Strategic development fund | USD 150B+ Estimate Published estimate | 4.0 | 2024 |
| 168 | EDGE Group | United Arab Emirates (Abu Dhabi) Middle East | State holding company | Not disclosed Estimate Published estimate | 3.5 | 2019 |
| 169 | Emirates Investment Authority (EIA) | United Arab Emirates Middle East | Savings and future generations fund | About USD 116B Estimate Published estimate, | 3.5 | 2007 |
| 170 | Indiana Common School Fund | United States (Indiana) North America | Sub-national permanent fund | USD 390.7M Fund market value, | 3.5 | |
| 171 | Kuwait Investment Authority | Kuwait Middle East | Savings and future generations fund | About USD 1T Estimate Published estimate, | 3.5 | 1953 |
| 172 | Macroeconomic Stabilization Fund of Venezuela | Venezuela Latin America and Caribbean | Stabilisation fund | USD 3M Total assets (balance sheet), | 3.5 | 1998 |
| 173 | Minerals Income Investment Fund (MIIF) | Ghana Africa | Savings and future generations fund | Not published Total assets (balance sheet) | 3.5 | 2018 |
| 174 | National Development Fund of Iran (NDFI) | Iran Middle East | Strategic development fund | About USD 195B (stated, unaudited) Total assets (balance sheet), | 3.5 | 2011 |
| 175 | Revenue Regulation Fund (Algeria) | Algeria Africa | Stabilisation fund | DZD 0.01 Fund market value, | 3.5 | 2000 |
| 176 | Sentosa Development Corporation | Singapore Asia | State holding company | Not published Total assets (balance sheet) | 3.5 | 1972 |
| 177 | Forum of Brazilian Sovereign Funds (FFSB) | Brazil Latin America and Caribbean | Sub-national permanent fund | No assets (network) Fund market value | 3.0 | 2022 |
| 178 | Fundo Soberano do Estado do Rio de Janeiro | Brazil (Rio de Janeiro) Latin America and Caribbean | Strategic development fund | R$ 2.07B Fund market value, | 3.0 | 2022 |
| 179 | National Security Strategic Investment Fund | United Kingdom Europe | Strategic development fund | Not disclosed Committed or authorised capital | 3.0 | 2018 |
| 180 | Russian Direct Investment Fund (RDIF) | Russia Europe | Fund of funds or co-investment platform | USD 10B Committed or authorised capital, | 3.0 | 2011 |
| 181 | Sharjah Asset Management | United Arab Emirates (Emirate of Sharjah) Middle East | Strategic development fund | Not published Total assets (balance sheet) | 3.0 | 2008 |
| 182 | Turks and Caicos National Wealth Fund | Turks and Caicos Islands Latin America and Caribbean | Savings and future generations fund | USD 98M Fund market value, | 3.0 | 2017 |
| 183 | China-Africa Development Fund (CADFund) | China Asia | Strategic development fund | USD 10B fund scale Committed or authorised capital, | 2.5 | 2007 |
| 184 | Dubai Investment Fund | United Arab Emirates (Dubai) Middle East | State holding company | About USD 80B Estimate Published estimate, | 2.5 | 2023 |
| 185 | Dubai World | United Arab Emirates (Dubai) Middle East | State holding company | Not disclosed Total assets (balance sheet) | 2.5 | 2006 |
| 186 | Kumpulan Wang Amanah Negara (National Trust Fund) | Malaysia Asia | Savings and future generations fund | RM22.43B (end 2024) Total assets (balance sheet) | 2.5 | 1988 |
| 187 | Little Red River Cree Nation Sovereign Wealth Fund | Canada (Alberta (Little Red River Cree Nation)) North America | Savings and future generations fund | Not published Fund market value, | 2.5 | 2018 |
| 188 | Sarawak Sovereign Wealth Future Fund | Malaysia (Sarawak) Asia | Savings and future generations fund | RM 8.6B Fund market value, | 2.5 | 2022 |
| 189 | Tanzania Oil and Gas Fund (Natural Gas Revenue Fund) Legislated, not yet investing | Tanzania Africa | Proposed or pipeline fund | TZS 190.94B Fund market value, | 2.5 | 2015 |
| 190 | Awqaf and Islamic Affairs Fund (Kuwait) | Kuwait Middle East | Savings and future generations fund | KWD 1.47B Portfolio value, | 2.0 | 1993 |
| 191 | Botswana Sovereign Wealth Fund (BSWF) Legislated, not yet investing | Botswana Africa | Proposed or pipeline fund | Not yet capitalised Committed or authorised capital, | 2.0 | 2025 |
| 192 | Fund for the Productive Industrial Revolution (FINPRO) | Bolivia Latin America and Caribbean | Strategic development fund | USD 1.2B initial capital Committed or authorised capital, | 2.0 | 2012 |
| 193 | Mongolia Fiscal Stability Fund | Mongolia Asia | Stabilisation fund | Not published Fund market value | 2.0 | 2010 |
| 194 | National Investment Fund (The Bahamas) Legislated, not yet investing | The Bahamas Latin America and Caribbean | Proposed or pipeline fund | Not disclosed Fund market value, | 2.0 | 2022 |
| 195 | Pakistan Sovereign Wealth Fund Legislated, not yet investing | Pakistan Asia | State holding company | Not operating Announced target, not current assets, | 2.0 | 2023 |
| 196 | Papua New Guinea Sovereign Wealth Fund Legislated, not yet investing | Papua New Guinea Australia and Pacific | Proposed or pipeline fund | Not disclosed Fund market value, | 2.0 | 2012 |
| 197 | Saint Kitts and Nevis Sovereign Wealth and Resilience Fund Legislated, not yet investing | Saint Kitts and Nevis Latin America and Caribbean | Proposed or pipeline fund | No assets yet Fund market value, | 2.0 | |
| 198 | Bayelsa State Development and Investment Corporation | Nigeria (Bayelsa State) Africa | Strategic development fund | Not disclosed Estimate Published estimate, | 1.5 | 2012 |
| 199 | Bhutan Economic Stabilization Fund (BESF) | Bhutan Asia | Stabilisation fund | Nu 167M Fund market value, | 1.5 | 2018 |
| 200 | Brunei Investment Agency (BIA) | Brunei Darussalam Asia | Savings and future generations fund | Not disclosed Estimate Published estimate, | 1.5 | 1983 |
| 201 | CNIC Corporation Limited | Hong Kong SAR, China Asia | Strategic development fund | USD 11.1B capital Committed or authorised capital | 1.5 | 2012 |
| 202 | Cyprus National Investment Fund Legislated, not yet investing | Cyprus Europe | Proposed or pipeline fund | Not disclosed Fund market value | 1.5 | 2019 |
| 203 | Fonds Souverain de Guinee (proposed) Proposed | Guinea Africa | Proposed or pipeline fund | Not yet capitalised Announced target, not current assets, | 1.5 | |
| 204 | Ilhabela Sovereign Fund | Brazil (Ilhabela, Sao Paulo) Latin America and Caribbean | Sub-national permanent fund | Not disclosed Estimate Published estimate, | 1.5 | 2018 |
| 205 | Kenya Sovereign Wealth Fund Legislated, not yet investing | Kenya Africa | Proposed or pipeline fund | Not disclosed Fund market value, | 1.5 | 2026 |
| 206 | Ontario First Nations Sovereign Wealth Fund | Canada (Ontario) North America | Savings and future generations fund | C$634.2M Portfolio value, | 1.5 | 2018 |
| 207 | SAFE Investment Company | China Asia | Reserve investment corporation | About USD 1T Estimate Published estimate, | 1.5 | 1997 |
| 208 | Savings and Stabilisation Fund Suriname Legislated, not yet investing | Suriname Latin America and Caribbean | Proposed or pipeline fund | Not yet funded Fund market value, | 1.5 | 2024 |
| 209 | Canada Strong Fund Announced | Canada North America | Proposed or pipeline fund | C$25B announced Announced target, not current assets, | 1.0 | |
| 210 | Congo Budget Revenue Stabilization Fund | Republic of the Congo Africa | Stabilisation fund | FCFA 1,131M (about USD 2.0M) Total assets (balance sheet), | 1.0 | |
| 211 | Ekiti State Wealth Fund | Nigeria (Ekiti State) Africa | Strategic development fund | Not published Fund market value | 1.0 | 2023 |
| 212 | Fund for Future Generations (Equatorial Guinea) | Equatorial Guinea Africa | Savings and future generations fund | FCFA 57B (USD 95.2M) Estimate Published estimate, | 1.0 | 2002 |
| 213 | Lebanese Sovereign Wealth Fund Legislated, not yet investing | Lebanon Middle East | Proposed or pipeline fund | No assets yet Fund market value, | 1.0 | 2023 |
| 214 | Nauru Phosphate Royalties Trust Dormant | Nauru Australia and Pacific | Savings and future generations fund | Not published Fund market value, | 1.0 | 1968 |
| 215 | South Sudan Oil Revenue Stabilization Fund Legislated, not yet investing | South Sudan Africa | Proposed or pipeline fund | Not disclosed Fund market value | 1.0 | 2013 |
| 216 | Stabilization Fund of Turkmenistan | Turkmenistan Asia | Stabilisation fund | Not disclosed Estimate Published estimate, | 1.0 | 2008 |
| 217 | Fujairah Holding | United Arab Emirates (Fujairah) Middle East | State holding company | Not published Estimate Published estimate | 0.5 | |
| 218 | Japan Sovereign Wealth Fund (proposed) Proposed | Japan Asia | Proposed or pipeline fund | Not established Estimate Published estimate, | 0.5 | |
| 219 | Saudi Technology Development and Investment Company (TAQNIA) | Saudi Arabia Middle East | Strategic development fund | Not published Total assets (balance sheet) | 0.5 | 2011 |
| 220 | Sovereign Fund of the Republic of Kosovo Legislated, not yet investing | Kosovo Europe | Proposed or pipeline fund | Not operating Announced target, not current assets, | 0.5 | |
| 221 | United States Sovereign Wealth Fund (proposed) Proposed | United States North America | Proposed or pipeline fund | Not created Announced target, not current assets, | 0.5 | |
| 222 | Bangladesh National Citizen Wealth Fund (proposed) Proposed | Bangladesh Asia | Proposed or pipeline fund | Not created Announced target, not current assets, | 0.0 | |
| 223 | Ciyada Development Fund Proposed | Kuwait Middle East | Proposed or pipeline fund | Not disclosed Announced target, not current assets | 0.0 | |
| 224 | Eswatini Sovereign Wealth Fund Announced | Eswatini Africa | Proposed or pipeline fund | E5B planned (about USD 275M) Announced target, not current assets, | 0.0 | |
| 225 | Jordan Public Investment Fund (proposed) Proposed | Jordan Middle East | Proposed or pipeline fund | No assets Fund market value, | 0.0 | |
| 226 | Lagos State Wealth Fund Proposed | Nigeria (Lagos State) Africa | Proposed or pipeline fund | Not created Announced target, not current assets, | 0.0 | |
| 227 | Saskatchewan Sovereign Fund (proposed) Proposed | Canada (Saskatchewan) North America | Proposed or pipeline fund | No assets Announced target, not current assets, | 0.0 | |
| 228 | South Africa Sovereign Wealth Fund (proposed) Proposed | South Africa Africa | Proposed or pipeline fund | Not established Estimate Published estimate, | 0.0 | |
| 229 | Taiwan Sovereign Wealth Fund (proposed) Announced | Taiwan Asia | Proposed or pipeline fund | No assets Announced target, not current assets | 0.0 | |
| 230 | Tanzania Minerals Sovereign Wealth Fund (announced) Announced | Tanzania Africa | Proposed or pipeline fund | No assets Announced target, not current assets, | 0.0 | |
| 231 | Zambia Sovereign Wealth Fund (proposed) Announced | Zambia Africa | Proposed or pipeline fund | No assets Announced target, not current assets, | 0.0 |
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Informational only. SovereignWealthFunds.com is an independent public-source reference. It is not affiliated with or endorsed by any fund named on it, and it is not investment, legal or tax advice. Figures are as of the dates shown next to them and may have changed; please read each fund's official pages, linked on its profile. To report an error, use the contact page. Copyright SovereignWealthFunds.com. All rights reserved.
