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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)

231 shown
#FundCountryTypeSize, as publishedTransparencyFounded
1Alaska Permanent FundUnited States (Alaska)
North America
Sub-national permanent fundUSD 91.9B
Fund market value,
10.01976
2Canada Pension Plan Investment BoardCanada
North America
Pension reserve fundC$863.6B
Net assets or equity,
10.01997
3Government Pension Fund Global (Norway)Norway
Europe
Savings and future generations fundNOK 22,683B
Fund market value,
10.01990
4KENFO, Nuclear Waste Disposal Fund (Germany)Germany
Europe
Savings and future generations fundEUR 25,577M
Fund market value,
10.02017
5Solidium OyFinland
Europe
State holding companyEUR 9.1B (end 2025)
Portfolio value
10.02008
6Temasek HoldingsSingapore
Asia
State holding companyS$518B
Portfolio value,
10.01974
7Timor-Leste Petroleum FundTimor-Leste
Australia and Pacific
Savings and future generations fundUSD 18.61B
Fund market value,
10.02005
8Baiterek National Investment HoldingKazakhstan
Asia
Strategic development fundKZT 19,047.6B
Total assets (balance sheet),
9.52013
9Citizens Fund (Israel)Israel
Middle East
Savings and future generations fundUSD 2.79B
Net assets or equity,
9.52014
10Fondo de Ahorro de Panama (Panama Savings Fund)Panama
Latin America and Caribbean
Savings and future generations fundB/. 3,084.8M (USD 3.08B)
Net assets or equity,
9.52012
11Government Pension Investment Fund (GPIF)Japan
Asia
Pension reserve fundJPY 293.6T
Fund market value,
9.52006
12Gulf Investment Corporation (GIC), KuwaitKuwait
Middle East
Strategic development fundUSD 3.50B
Total assets (balance sheet),
9.51983
13Luxembourg Intergenerational Sovereign Fund (FSIL)Luxembourg
Europe
Savings and future generations fundEUR 784.3M (end 2025)
Total assets (balance sheet)
9.52014
14National Development and Social Fund (Malta)Malta
Europe
Strategic development fundEUR 846.7M
Net assets or equity,
9.52015
15New Zealand Superannuation FundNew Zealand
Australia and Pacific
Pension reserve fundNZ$94.4B
Fund market value,
9.52001
16Tesi (Finnish Industry Investment Ltd)Finland
Europe
Fund of funds or co-investment platformEUR 3.2B
Assets under management,
9.51995
17Texas Permanent School FundUnited States (Texas)
North America
Sub-national permanent fundUSD 60.6B
Net assets or equity,
9.51845
18BpifranceFrance
Europe
Strategic development fundEUR 106.3B
Total assets (balance sheet),
9.02012
19British Business BankUnited Kingdom
Europe
Strategic development fundGBP 6.01B
Total assets (balance sheet),
9.02014
20British International Investment (BII)United Kingdom
Europe
Strategic development fundGBP 6,641.2M
Portfolio value,
9.01948
21Crown Investments Corporation of Saskatchewan (CIC)Canada (Saskatchewan)
North America
State holding companyC$26,852.8M
Total assets (balance sheet),
9.01947
22Economic and Social Stabilization Fund (FEES), ChileChile
Latin America and Caribbean
Stabilisation fundUSD 3,885.14M
Fair value of state company holdings,
9.02007
23Folketrygdfondet (Government Pension Fund Norway)Norway
Europe
Pension reserve fundNOK 429B
Assets under management,
9.01967
24Fundo de Equalizacao da Receita de NiteroiBrazil (Niteroi, Rio de Janeiro state)
Latin America and Caribbean
Sub-national permanent fundBRL 1.75B
Net assets or equity,
9.02019
25Future Fund (Australia)Australia
Australia and Pacific
Pension reserve fundA$289.7B
Net assets or equity,
9.02006
26Ghana Petroleum Funds (Ghana Stabilisation Fund and Ghana Heritage Fund)Ghana
Africa
Stabilisation fundUSD 1.64B (30 June 2026)
Fund market value,
9.02011
27Heritage and Stabilisation Fund (Trinidad and Tobago)Trinidad and Tobago
Latin America and Caribbean
Stabilisation fundUSD 6.25B
Net assets or equity,
9.02007
28Indonesia Investment AuthorityIndonesia
Asia
Strategic development fundRp111.0tn
Total assets (balance sheet),
9.02021
29Ireland Strategic Investment Fund (ISIF)Ireland
Europe
Strategic development fundEUR 16.1B
Net assets or equity,
9.02014
30Khazanah Nasional BerhadMalaysia
Asia
State holding companyRM156B
Total assets (balance sheet),
9.01993
31Mubadala Investment CompanyUnited Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundAED 1,414B
Assets under management,
9.02002
32National Wealth FundUnited Kingdom
Europe
Strategic development fundGBP 27.8B
Committed or authorised capital,
9.02021
33New Mexico State Investment Council (SIC)United States (New Mexico)
North America
Sub-national permanent fundUSD 74.63B
Net assets or equity,
9.01957
34North Dakota Legacy FundUnited States (North Dakota)
North America
Sub-national permanent fundUSD 15.10B
Net assets or equity,
9.02010
35Pension Reserve Fund (Fondo de Reserva de Pensiones)Chile
Latin America and Caribbean
Pension reserve fundUSD 10.71B
Fund market value,
9.02006
36State Oil Fund of the Republic of Azerbaijan (SOFAZ)Azerbaijan
Asia
Savings and future generations fundUSD 72.6B
Total assets (balance sheet),
9.01999
37Texas Permanent University Fund (PUF)United States (Texas)
North America
Sub-national permanent fundUSD 40.29B
Net assets or equity,
9.01876
38U.S. International Development Finance CorporationUnited States
North America
Strategic development fundUSD 23.6B total assets
Total assets (balance sheet),
9.02019
39Alabama Trust FundUnited States (Alabama)
North America
Sub-national permanent fundUSD 4.19B
Fund market value,
8.51985
40Alberta Heritage Savings Trust FundCanada (Alberta)
North America
Sub-national permanent fundC$31.9B
Net assets or equity,
8.51976
41Future Ireland FundIreland
Europe
Savings and future generations fundEUR 12.7B
Fund market value,
8.52024
42Growthfund (Hellenic Corporation of Assets and Participations S.A.)Greece
Europe
State holding companyEUR 12.3B AUM (2024)
Assets under management,
8.52016
43Idaho Endowment Fund Investment Board (EFIB)United States (Idaho)
North America
Sub-national permanent fundUSD 3,588.7M
Fund market value,
8.51969
44Infrastructure, Climate and Nature FundIreland
Europe
Stabilisation fundAbout EUR 4.1B (end 2025)
Fund market value,
8.52024
45Investissement QuébecCanada (Quebec)
North America
Strategic development fundC$5.1B equity (31 March 2026)
Net assets or equity,
8.51998
46Korea Investment CorporationSouth Korea
Asia
Reserve investment corporationUSD 232.0B
Assets under management,
8.52005
47National Wealth Fund of the Russian FederationRussia
Europe
Stabilisation fundRUB 13,194.9B
Fund market value,
8.52008
48Natural Resource Fund (Guyana)Guyana
Latin America and Caribbean
Savings and future generations fundUSD 4.29B
Fund market value,
8.52019
49NSW Treasury Corporation (TCorp)Australia (New South Wales)
Australia and Pacific
Sub-national permanent fundA$118.6B
Assets under management,
8.51983
50Oesterreichische Beteiligungs AG (OBAG)Austria
Europe
State holding companyEUR 30.05B
Portfolio value,
8.51967
51Palestine Investment Fund P.L.C.Palestine
Middle East
Strategic development fundUSD 935.3M total assets (end 2025)
Total assets (balance sheet),
8.52003
52Parpublica (Portugal)Portugal
Europe
State holding companyEUR 10.82B
Total assets (balance sheet),
8.52000
53Permodalan Nasional Berhad (PNB)Malaysia
Asia
State holding companyRM365.3B
Assets under management,
8.51978
54Royal Bafokeng HoldingsSouth Africa (Royal Bafokeng Nation, North West province)
Africa
Savings and future generations fundR66B
Net assets or equity,
8.52006
55Samruk-Kazyna JSCKazakhstan
Asia
State holding companyKZT 44.2T
Total assets (balance sheet),
8.52008
56Slovenian Sovereign HoldingSlovenia
Europe
State holding companyEUR 14.0B
Portfolio value,
8.52014
57State Capital Investment CorporationVietnam
Asia
State holding companyVND 72,474bn total assets (end 2025)
Total assets (balance sheet),
8.52005
58Utah School and Institutional Trust Funds Office (SITFO)United States (Utah)
North America
Sub-national permanent fundUSD 4.05B
Net assets or equity,
8.52014
59Victorian Funds Management Corporation (VFMC)Australia (Victoria)
Australia and Pacific
Sub-national permanent fundAUD 95.3B
Assets under management,
8.51994
60Caisse des Depots et Consignations TunisiaTunisia
Africa
Strategic development fundTND 13.52B
Total assets (balance sheet),
8.02011
61China Investment CorporationChina
Asia
Reserve investment corporationUSD 1,567B
Total assets (balance sheet),
8.02007
62COFIDES (Spanish Development Finance Company)Spain
Europe
Strategic development fundEUR 6.0B
Assets under management,
8.01988
63Export and Investment Fund of Denmark (EIFO)Denmark
Europe
Strategic development fundDKK 76.5B
Total assets (balance sheet),
8.02022
64Fiscal Stabilization Fund of PeruPeru
Latin America and Caribbean
Stabilisation fundUSD 3,214.38M
Fund market value,
8.01999
65Hong Kong Monetary Authority Exchange FundHong Kong SAR, China
Asia
Reserve investment corporationHKD 4,463.6B
Total assets (balance sheet),
8.01935
66Investment Corporation of Dubai (ICD)United Arab Emirates (Dubai)
Middle East
State holding companyAED 1,680B
Total assets (balance sheet),
8.02006
67Mexican Petroleum Fund for Stabilization and DevelopmentMexico
Latin America and Caribbean
Savings and future generations fundUSD 1,192.3M
Fund market value,
8.02013
68Mutapa Investment Fund (Zimbabwe)Zimbabwe
Africa
State holding companyUSD 16.5B
Total assets (balance sheet),
8.02014
69National Council for Social Security Fund (NSSF)China
Asia
Pension reserve fundRMB 3,808B
Total assets (balance sheet),
8.02000
70National Development Fund (Taiwan)Taiwan
Asia
Strategic development fundNT$2,098.5B
Total assets (balance sheet),
8.02006
71Nigeria Sovereign Investment AuthorityNigeria
Africa
Strategic development fundUSD 3.40B NAV
Net assets or equity,
8.02011
72Public Investment Fund (PIF)Saudi Arabia
Middle East
Strategic development fundSAR 3,396B
Assets under management,
8.01971
73Queensland Investment CorporationAustralia (Queensland)
Australia and Pacific
Sub-national permanent fundA$131.6B gross AUM
Assets under management
8.01991
74Sovereign Private Investment Guarantee Fund of Cabo VerdeCape Verde
Africa
Strategic development fundECV 11.55B
Total assets (balance sheet),
8.02019
75CDP Equity S.p.A.Italy
Europe
Strategic development fundEUR 12.44B total assets
Total assets (balance sheet),
7.52011
76Druk Holding and InvestmentsBhutan
Asia
State holding companyNu 402.17B
Total assets (balance sheet),
7.52007
77Fundo Soberano de Angola (FSDEA)Angola
Africa
Savings and future generations fundUSD 4.72B
Total assets (balance sheet),
7.52011
78Fundo Soberano de Mocambique (FSM)Mozambique
Africa
Savings and future generations fundUSD 144.4M
Fund market value,
7.52024
79Fundo Soberano do Estado do Espirito Santo (FUNSES)Brazil (Espírito Santo)
Latin America and Caribbean
Strategic development fundR$ 2.93B
Fund market value,
7.52019
80Ghana Infrastructure Investment FundGhana
Africa
Strategic development fundGHS 7.83B
Total assets (balance sheet),
7.5
81Intergenerational Trust Fund for the People of the Republic of NauruNauru
Australia and Pacific
Savings and future generations fundA$421.8M investments (30 June 2025)
Portfolio value
7.52015
82Mauritius Investment Corporation Ltd (MIC)Mauritius
Africa
Strategic development fundMUR 57.5B
Committed or authorised capital,
7.52020
83Micronesia and Marshall Islands Trust FundsMicronesia and Marshall Islands
Australia and Pacific
Savings and future generations fundUSD 3.78B
Net assets or equity,
7.52004
84Mumtalakat Holding CompanyBahrain
Middle East
State holding companyBHD 7.22B
Total assets (balance sheet),
7.52006
85National Fund of the Republic of KazakhstanKazakhstan
Asia
Savings and future generations fundUSD 73.8B
Fund market value,
7.52000
86Northwest Territories Heritage FundCanada (Northwest Territories)
North America
Sub-national permanent fundC$52.5M (31 March 2025)
Net assets or equity,
7.52012
87Oman Investment Authority (OIA)Oman
Middle East
Strategic development fundOMR 22.922B
Total assets (balance sheet),
7.52020
88Oregon Common School FundUnited States (Oregon)
North America
Sub-national permanent fundUSD 2,878.1M
Fair value of state company holdings,
7.51859
89Pula Fund (Botswana, Bank of Botswana)Botswana
Africa
Savings and future generations fundBWP 27.87B
Fund market value,
7.51994
90Washington Permanent Common School FundUnited States (Washington)
North America
Sub-national permanent fundUSD 292.1M (31 March 2026)
Fund market value,
7.5
91ADQ and L'IMAD HoldingUnited Arab Emirates (Abu Dhabi)
Middle East
State holding companyAED 996.8B
Total assets (balance sheet),
7.02018
92Agaciro Development FundRwanda
Africa
Strategic development fundFRW 456B
Assets under management
7.02012
93Deposit and Consignment Fund of BeninBenin
Africa
Strategic development fundXOF 1,062B
Total assets (balance sheet),
7.02018
94Federal Holding and Investment Company (SFPIM / FPIM), BelgiumBelgium
Europe
State holding companyEUR 11,679M
Total assets (balance sheet),
7.01962
95Fonds Gabonais d'Investissements StrategiquesGabon
Africa
Strategic development fundAbout USD 1.9B
Portfolio value,
7.02012
96GIC Private LimitedSingapore
Asia
Reserve investment corporationAbout USD 1.16T Estimate
Published estimate,
7.01981
97Libyan Investment AuthorityLibya
Africa
Savings and future generations fundAbout USD 51.8B (direct portfolio incl. cash)
Portfolio value,
7.02006
98NSW Generations FundAustralia (New South Wales)
Australia and Pacific
Sub-national permanent fundA$18.921B
Fund market value,
7.02018
99Polish Development Fund (PFR)Poland
Europe
Strategic development fundPLN 49.77B
Total assets (balance sheet),
7.02012
100Sociedad Estatal de Participaciones IndustrialesSpain
Europe
State holding companyEUR 15.01B
Portfolio value,
7.01995
101Turkiye Wealth Fund (TWF)Turkiye
Europe
State holding companyTRY 18,997B
Total assets (balance sheet),
7.02016
102Alaska Mental Health Trust Authority Trust FundUnited States (Alaska)
North America
Sub-national permanent fundUSD 754.5M
Fund market value,
6.51994
103Bahrain Future Generations Reserve FundBahrain
Middle East
Savings and future generations fundUSD 1.11B
Total assets (balance sheet),
6.52006
104Beijing State-owned Assets Management Co., Ltd.China (Beijing)
Asia
State holding companyRMB 171.92B total assets
Total assets (balance sheet),
6.51992
105Chinggis Khaan Sovereign Wealth Fund (Mongolia)Mongolia
Asia
Savings and future generations fundMNT 7.5T
Fund market value,
6.52025
106Japan Investment Corporation (JIC)Japan
Asia
Strategic development fundJPY 2.60T
Committed or authorised capital,
6.52018
107JSC Development Fund of Georgia (DFG)
Dormant
Georgia
Asia
Strategic development fundGEL 473.1M
Total assets (balance sheet),
6.52011
108Maharlika Investment Corporation (MIC)Philippines
Asia
Strategic development fundPHP 128.23B
Total assets (balance sheet),
6.52023
109Malta Government InvestmentsMalta
Europe
State holding companyEUR 44.9M
Total assets (balance sheet),
6.52014
110Minnesota Permanent School FundUnited States (Minnesota)
North America
Sub-national permanent fundUSD 2.40B (31 March 2026)
Fund market value,
6.5
111Montana Coal Severance Tax Trust FundUnited States (Montana)
North America
Sub-national permanent fundUSD 1,323.3M
Fair value of state company holdings,
6.5
112National Fund for Hydrocarbon Revenues (Mauritania)Mauritania
Africa
Stabilisation fundUSD 214.5M
Total assets (balance sheet),
6.52006
113Native Hawaiian Trust Fund (Office of Hawaiian Affairs)United States (Hawaii)
North America
Sub-national permanent fundUSD 656M
Fund market value,
6.51978
114Permanent Wyoming Mineral Trust FundUnited States (Wyoming)
North America
Sub-national permanent fundUSD 13.02B
Fund market value,
6.51974
115Quebec Generations FundCanada (Quebec)
North America
Sub-national permanent fundC$16.64B
Fund market value,
6.52006
116Wyoming Common School Permanent Land FundUnited States (Wyoming)
North America
Sub-national permanent fundUSD 6.62B
Fair value of state company holdings,
6.5
117Constitutional Reserve FundMonaco
Europe
Reserve investment corporationEUR 7.28B
Total assets (balance sheet),
6.01962
118Hong Kong Investment Corporation (HKIC)Hong Kong SAR, China
Asia
Strategic development fundHK$62B
Committed or authorised capital
6.02022
119National Investment and Infrastructure Fund (NIIF), IndiaIndia
Asia
Strategic development fundUSD 5B+
Committed or authorised capital,
6.02015
120North Dakota Common Schools Trust FundUnited States (North Dakota)
North America
Sub-national permanent fundUSD 8.87B
Total assets (balance sheet),
6.01889
121Oklahoma Commissioners of the Land OfficeUnited States (Oklahoma)
North America
Sub-national permanent fundUSD 2.96B
Fund market value,
6.01907
122Tuvalu Trust FundTuvalu
Australia and Pacific
Savings and future generations fundAUD 311.4M
Fund market value,
6.01987
123Abu Dhabi Investment Authority (ADIA)United Arab Emirates (Abu Dhabi)
Middle East
Savings and future generations fundAbout USD 1.1T Estimate
Published estimate,
5.51976
124Armed Forces Fund BoardMalaysia
Asia
Pension reserve fundRM13.36B
Assets under management,
5.51972
125Budgetary Income Stabilization FundMexico
Latin America and Caribbean
Stabilisation fundMXN 136.6B
Fund market value,
5.52000
126Colorado Public School Fund Investment BoardUnited States (Colorado)
North America
Sub-national permanent fundUSD 1.85B
Fund market value,
5.5
127Dakota Cement Trust (South Dakota)United States (South Dakota)
North America
Sub-national permanent fundUSD 392.3M
Fund market value,
5.52001
128Ethiopian Investment HoldingsEthiopia
Africa
State holding companyAbout USD 45B Estimate
Published estimate,
5.52021
129Fonds Souverain d'Investissements StrategiquesSenegal
Africa
Strategic development fundNot disclosed Estimate
Published estimate,
5.52012
130Fund for Reconstruction and Development of the Republic of UzbekistanUzbekistan
Asia
Strategic development fundNot disclosed
Total assets (balance sheet)
5.52006
131Kahnawake Sovereign Wealth FundCanada (Kahnawake Mohawk Territory, Quebec)
North America
Sub-national permanent fundCAD 40.4M
Fund market value,
5.52024
132Nebraska Permanent School Fund (Board of Educational Lands and Funds)United States (Nebraska)
North America
Sub-national permanent fundUSD 1,081.3M
Fair value of state company holdings,
5.51867
133Nunavut TrustCanada (Nunavut)
North America
Sub-national permanent fundC$2.07B
Net assets or equity,
5.51990
134Oklahoma Tobacco Settlement Endowment TrustUnited States (Oklahoma)
North America
Sub-national permanent fundUSD 1.72B
Fund market value,
5.52000
135Revenue Equalization Reserve FundKiribati
Australia and Pacific
Savings and future generations fundA$1.74B
Fund market value,
5.51956
136SAMA Foreign HoldingsSaudi Arabia
Middle East
Reserve investment corporationSAR 1,827B
Total assets (balance sheet)
5.51952
137Savings and Stabilization Fund (FAE), ColombiaColombia
Latin America and Caribbean
Stabilisation fundUSD 4,588.5M
Total assets (balance sheet),
5.52012
138Welwitschia Fund (Sovereign Wealth Fund for Namibia)Namibia
Africa
Savings and future generations fundN$508.47M (31 July 2026)
Fund market value,
5.52022
139Western Australian Future FundAustralia (Western Australia)
Australia and Pacific
Sub-national permanent fundA$1.90B
Portfolio value,
5.52012
140Abu Dhabi Fund for DevelopmentUnited Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundNot disclosed
Total assets (balance sheet),
5.01971
141Ithmar CapitalMorocco
Africa
Strategic development fundNot disclosed
Total assets (balance sheet)
5.02011
142Louisiana Education Quality Trust Fund (8(g))United States (Louisiana)
North America
Sub-national permanent fundUSD 1,768.5M
Fund market value,
5.01986
143MGXUnited Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundUSD 49B
Committed or authorised capital,
5.02024
144Michigan Natural Resources Trust FundUnited States (Michigan)
North America
Sub-national permanent fundUSD 725.6M Estimate
Published estimate,
5.01976
145North Dakota Strategic Investment and Improvements Fund (SIIF)United States (North Dakota)
North America
Strategic development fundUSD 1.16B
Fund market value,
5.02011
146Taiwan National Stabilization FundTaiwan
Asia
Stabilisation fundNT$500B funding ceiling
Committed or authorised capital,
5.02000
147Tamilnadu Industrial Development Corporation Ltd (TIDCO)India (Tamil Nadu)
Asia
State holding companyINR 103,607 crore
Fair value of state company holdings,
5.01965
148Wisconsin Board of Commissioners of Public Lands (Common School Fund)United States (Wisconsin)
North America
Sub-national permanent fundUSD 1.56B (30 June 2025)
Total assets (balance sheet),
5.01848
149Arizona Permanent Land Endowment Trust FundUnited States (Arizona)
North America
Sub-national permanent fundUSD 11.4B
Fund market value,
4.51912
150Dubai HoldingUnited Arab Emirates (Dubai)
Middle East
State holding companyAED 500B
Assets under management
4.52004
151Espana Crece (ICO programme)Spain
Europe
Strategic development fundEUR 13.3B
Committed or authorised capital,
4.52026
152Marica Sovereign FundBrazil (Marica, Rio de Janeiro)
Latin America and Caribbean
Sub-national permanent fundR$ 2.10B
Fund market value,
4.52017
153National Made in Italy Fund (FNMI)Italy
Europe
Strategic development fundEUR 900M
Committed or authorised capital,
4.52023
154Texas Economic Stabilization Fund (Rainy Day Fund)United States (Texas)
North America
Stabilisation fundUSD 24.8B
Fund market value,
4.51988
155Wallonie EntreprendreBelgium (Walloon Region)
Europe
Strategic development fundEUR 4.98B equity (31 Dec 2025)
Net assets or equity,
4.52023
156Azerbaijan Investment HoldingAzerbaijan
Asia
State holding companyNot published
Total assets (balance sheet)
4.02020
157Danantara IndonesiaIndonesia
Asia
State holding companyAbout USD 900B to USD 1T (unaudited) Estimate
Published estimate,
4.02025
158Hong Kong Future FundHong Kong SAR, China
Asia
Savings and future generations fundHK$235.1B
Fund market value,
4.02016
159LunateUnited Arab Emirates (Abu Dhabi)
Middle East
Fund of funds or co-investment platformMore than USD 115B
Assets under management,
4.02023
160Mohammed VI Investment Fund (FM6I)Morocco
Africa
Strategic development fundMAD 15B initial capital
Committed or authorised capital
4.02020
161National Development Fund (NDF)Saudi Arabia
Middle East
Strategic development fundAbout SAR 430B
Committed or authorised capital,
4.02017
162National Investment Corporation of the National Bank of KazakhstanKazakhstan
Asia
Reserve investment corporationUSD 3.4B
Assets under management,
4.02012
163Petroleum Revenue Investment Reserve (Uganda)Uganda
Africa
Savings and future generations fundUGX 212.6B
Fund market value,
4.02015
164Qatar Investment Authority (QIA)Qatar
Middle East
Savings and future generations fundAbout USD 580B Estimate
Published estimate,
4.02005
165The Sovereign Fund of EgyptEgypt
Middle East
Strategic development fundNot disclosed Estimate
Published estimate
4.02018
166WafraKuwait
Middle East
State holding companyKD 119.0M
Net assets or equity,
4.01994
167XRG, ADNOC international investment company (Abu Dhabi)United Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundUSD 150B+ Estimate
Published estimate
4.02024
168EDGE GroupUnited Arab Emirates (Abu Dhabi)
Middle East
State holding companyNot disclosed Estimate
Published estimate
3.52019
169Emirates Investment Authority (EIA)United Arab Emirates
Middle East
Savings and future generations fundAbout USD 116B Estimate
Published estimate,
3.52007
170Indiana Common School FundUnited States (Indiana)
North America
Sub-national permanent fundUSD 390.7M
Fund market value,
3.5
171Kuwait Investment AuthorityKuwait
Middle East
Savings and future generations fundAbout USD 1T Estimate
Published estimate,
3.51953
172Macroeconomic Stabilization Fund of VenezuelaVenezuela
Latin America and Caribbean
Stabilisation fundUSD 3M
Total assets (balance sheet),
3.51998
173Minerals Income Investment Fund (MIIF)Ghana
Africa
Savings and future generations fundNot published
Total assets (balance sheet)
3.52018
174National Development Fund of Iran (NDFI)Iran
Middle East
Strategic development fundAbout USD 195B (stated, unaudited)
Total assets (balance sheet),
3.52011
175Revenue Regulation Fund (Algeria)Algeria
Africa
Stabilisation fundDZD 0.01
Fund market value,
3.52000
176Sentosa Development CorporationSingapore
Asia
State holding companyNot published
Total assets (balance sheet)
3.51972
177Forum of Brazilian Sovereign Funds (FFSB)Brazil
Latin America and Caribbean
Sub-national permanent fundNo assets (network)
Fund market value
3.02022
178Fundo Soberano do Estado do Rio de JaneiroBrazil (Rio de Janeiro)
Latin America and Caribbean
Strategic development fundR$ 2.07B
Fund market value,
3.02022
179National Security Strategic Investment FundUnited Kingdom
Europe
Strategic development fundNot disclosed
Committed or authorised capital
3.02018
180Russian Direct Investment Fund (RDIF)Russia
Europe
Fund of funds or co-investment platformUSD 10B
Committed or authorised capital,
3.02011
181Sharjah Asset ManagementUnited Arab Emirates (Emirate of Sharjah)
Middle East
Strategic development fundNot published
Total assets (balance sheet)
3.02008
182Turks and Caicos National Wealth FundTurks and Caicos Islands
Latin America and Caribbean
Savings and future generations fundUSD 98M
Fund market value,
3.02017
183China-Africa Development Fund (CADFund)China
Asia
Strategic development fundUSD 10B fund scale
Committed or authorised capital,
2.52007
184Dubai Investment FundUnited Arab Emirates (Dubai)
Middle East
State holding companyAbout USD 80B Estimate
Published estimate,
2.52023
185Dubai WorldUnited Arab Emirates (Dubai)
Middle East
State holding companyNot disclosed
Total assets (balance sheet)
2.52006
186Kumpulan Wang Amanah Negara (National Trust Fund)Malaysia
Asia
Savings and future generations fundRM22.43B (end 2024)
Total assets (balance sheet)
2.51988
187Little Red River Cree Nation Sovereign Wealth FundCanada (Alberta (Little Red River Cree Nation))
North America
Savings and future generations fundNot published
Fund market value,
2.52018
188Sarawak Sovereign Wealth Future FundMalaysia (Sarawak)
Asia
Savings and future generations fundRM 8.6B
Fund market value,
2.52022
189Tanzania Oil and Gas Fund (Natural Gas Revenue Fund)
Legislated, not yet investing
Tanzania
Africa
Proposed or pipeline fundTZS 190.94B
Fund market value,
2.52015
190Awqaf and Islamic Affairs Fund (Kuwait)Kuwait
Middle East
Savings and future generations fundKWD 1.47B
Portfolio value,
2.01993
191Botswana Sovereign Wealth Fund (BSWF)
Legislated, not yet investing
Botswana
Africa
Proposed or pipeline fundNot yet capitalised
Committed or authorised capital,
2.02025
192Fund for the Productive Industrial Revolution (FINPRO)Bolivia
Latin America and Caribbean
Strategic development fundUSD 1.2B initial capital
Committed or authorised capital,
2.02012
193Mongolia Fiscal Stability FundMongolia
Asia
Stabilisation fundNot published
Fund market value
2.02010
194National Investment Fund (The Bahamas)
Legislated, not yet investing
The Bahamas
Latin America and Caribbean
Proposed or pipeline fundNot disclosed
Fund market value,
2.02022
195Pakistan Sovereign Wealth Fund
Legislated, not yet investing
Pakistan
Asia
State holding companyNot operating
Announced target, not current assets,
2.02023
196Papua New Guinea Sovereign Wealth Fund
Legislated, not yet investing
Papua New Guinea
Australia and Pacific
Proposed or pipeline fundNot disclosed
Fund market value,
2.02012
197Saint Kitts and Nevis Sovereign Wealth and Resilience Fund
Legislated, not yet investing
Saint Kitts and Nevis
Latin America and Caribbean
Proposed or pipeline fundNo assets yet
Fund market value,
2.0
198Bayelsa State Development and Investment CorporationNigeria (Bayelsa State)
Africa
Strategic development fundNot disclosed Estimate
Published estimate,
1.52012
199Bhutan Economic Stabilization Fund (BESF)Bhutan
Asia
Stabilisation fundNu 167M
Fund market value,
1.52018
200Brunei Investment Agency (BIA)Brunei Darussalam
Asia
Savings and future generations fundNot disclosed Estimate
Published estimate,
1.51983
201CNIC Corporation LimitedHong Kong SAR, China
Asia
Strategic development fundUSD 11.1B capital
Committed or authorised capital
1.52012
202Cyprus National Investment Fund
Legislated, not yet investing
Cyprus
Europe
Proposed or pipeline fundNot disclosed
Fund market value
1.52019
203Fonds Souverain de Guinee (proposed)
Proposed
Guinea
Africa
Proposed or pipeline fundNot yet capitalised
Announced target, not current assets,
1.5
204Ilhabela Sovereign FundBrazil (Ilhabela, Sao Paulo)
Latin America and Caribbean
Sub-national permanent fundNot disclosed Estimate
Published estimate,
1.52018
205Kenya Sovereign Wealth Fund
Legislated, not yet investing
Kenya
Africa
Proposed or pipeline fundNot disclosed
Fund market value,
1.52026
206Ontario First Nations Sovereign Wealth FundCanada (Ontario)
North America
Savings and future generations fundC$634.2M
Portfolio value,
1.52018
207SAFE Investment CompanyChina
Asia
Reserve investment corporationAbout USD 1T Estimate
Published estimate,
1.51997
208Savings and Stabilisation Fund Suriname
Legislated, not yet investing
Suriname
Latin America and Caribbean
Proposed or pipeline fundNot yet funded
Fund market value,
1.52024
209Canada Strong Fund
Announced
Canada
North America
Proposed or pipeline fundC$25B announced
Announced target, not current assets,
1.0
210Congo Budget Revenue Stabilization FundRepublic of the Congo
Africa
Stabilisation fundFCFA 1,131M (about USD 2.0M)
Total assets (balance sheet),
1.0
211Ekiti State Wealth FundNigeria (Ekiti State)
Africa
Strategic development fundNot published
Fund market value
1.02023
212Fund for Future Generations (Equatorial Guinea)Equatorial Guinea
Africa
Savings and future generations fundFCFA 57B (USD 95.2M) Estimate
Published estimate,
1.02002
213Lebanese Sovereign Wealth Fund
Legislated, not yet investing
Lebanon
Middle East
Proposed or pipeline fundNo assets yet
Fund market value,
1.02023
214Nauru Phosphate Royalties Trust
Dormant
Nauru
Australia and Pacific
Savings and future generations fundNot published
Fund market value,
1.01968
215South Sudan Oil Revenue Stabilization Fund
Legislated, not yet investing
South Sudan
Africa
Proposed or pipeline fundNot disclosed
Fund market value
1.02013
216Stabilization Fund of TurkmenistanTurkmenistan
Asia
Stabilisation fundNot disclosed Estimate
Published estimate,
1.02008
217Fujairah HoldingUnited Arab Emirates (Fujairah)
Middle East
State holding companyNot published Estimate
Published estimate
0.5
218Japan Sovereign Wealth Fund (proposed)
Proposed
Japan
Asia
Proposed or pipeline fundNot established Estimate
Published estimate,
0.5
219Saudi Technology Development and Investment Company (TAQNIA)Saudi Arabia
Middle East
Strategic development fundNot published
Total assets (balance sheet)
0.52011
220Sovereign Fund of the Republic of Kosovo
Legislated, not yet investing
Kosovo
Europe
Proposed or pipeline fundNot operating
Announced target, not current assets,
0.5
221United States Sovereign Wealth Fund (proposed)
Proposed
United States
North America
Proposed or pipeline fundNot created
Announced target, not current assets,
0.5
222Bangladesh National Citizen Wealth Fund (proposed)
Proposed
Bangladesh
Asia
Proposed or pipeline fundNot created
Announced target, not current assets,
0.0
223Ciyada Development Fund
Proposed
Kuwait
Middle East
Proposed or pipeline fundNot disclosed
Announced target, not current assets
0.0
224Eswatini Sovereign Wealth Fund
Announced
Eswatini
Africa
Proposed or pipeline fundE5B planned (about USD 275M)
Announced target, not current assets,
0.0
225Jordan Public Investment Fund (proposed)
Proposed
Jordan
Middle East
Proposed or pipeline fundNo assets
Fund market value,
0.0
226Lagos State Wealth Fund
Proposed
Nigeria (Lagos State)
Africa
Proposed or pipeline fundNot created
Announced target, not current assets,
0.0
227Saskatchewan Sovereign Fund (proposed)
Proposed
Canada (Saskatchewan)
North America
Proposed or pipeline fundNo assets
Announced target, not current assets,
0.0
228South Africa Sovereign Wealth Fund (proposed)
Proposed
South Africa
Africa
Proposed or pipeline fundNot established Estimate
Published estimate,
0.0
229Taiwan Sovereign Wealth Fund (proposed)
Announced
Taiwan
Asia
Proposed or pipeline fundNo assets
Announced target, not current assets
0.0
230Tanzania Minerals Sovereign Wealth Fund (announced)
Announced
Tanzania
Africa
Proposed or pipeline fundNo assets
Announced target, not current assets,
0.0
231Zambia Sovereign Wealth Fund (proposed)
Announced
Zambia
Africa
Proposed or pipeline fundNo assets
Announced target, not current assets,
0.0

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