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Fund List

  • Algeria - Revenue Regulation Fund
  • Angola - Reserve Fund for Oil
  • Australian Future Fund
  • Azerbaijan - State Oil Fund
  • Bahrain - Mumtalakat Holding Company
  • Bolivia - SWF planned
  • Botswana - Pula Fund
  • Brazil - SWF presumed
  • Brunei Investment Agency
  • Canada - Alberta's Heritage Fund
  • Chile - Social and Economic Stabilization Fund
  • China-Africa Development Fund
  • China Investment Corporation
  • China - National Social Security Fund
  • China - SAFE Investment Company
  • Hong Kong Monetary Authority Investment Portfolio
  • India - SWF presumed
  • Iran - Oil Stabilisation Fund
  • Ireland - National Pensions Reserve Fund
  • Japan - SWF presumed
  • Kazakhstan National Fund
  • Kiribati - Revenue Equalization Reserve Fund
  • Korea Investment Corporation
  • Kuwait Investment Authority
  • Libyan Investment Authority
  • Malaysia - Khazanah Nasional
  • Mauritania - National Fund for Hydrocarbon Reserves
  • New Zealand Superannuation Fund
  • Nigeria - Excess Crude Account
  • Norway - Government Pension Fund – Global
  • Oman - State General Reserve Fund
  • Qatar Investment Authority
  • Russia - National Welfare Fund
  • Saudi Arabia - Public Investment Fund
  • Saudi Arabia - SAMA Foreign Holdings
  • Singapore - Government of Singapore Investment Corporation
  • Singapore - Temasek Holdings
  • Taiwan - National Stabilisation Fund
  • Thailand - SWF presumed
  • Timor-Leste Petroleum Fund
  • Trinidad and Tobago - Heritage and Stabilization Fund
  • UAE - Abu Dhabi Investment Authority
  • UAE - Emirates Investment Authority
  • UAE - Investment Corporation of Dubai
  • UAE - Mubadala Development Company
  • UAE - RAK Investment Authority
  • USA - Alaska Permanent Fund
  • USA - Alabama Trust Fund
  • USA - New Mexico State Investment Office Trust
  • USA - Permanent Wyoming Mineral Trust Fund
  • Venezuela - FIEM
  • Vietnam - State Capital Investment Corporation



    		•

    Democracy Index

  • The Economist has in a study examined the state of democracy in 167 countries and rated those with an Economist Intelligence Unit Index of Democracy which focused on five general categories:
    free and fair election process, civil liberties, functioning of government, political participation and political culture.

  • This is not the full democracy index, only countries that have SWFs and countries of interest in our studies.

    •

    Rank Country Index Category Funds
    1 Norway 9.55 Functioning democracy Government Pension Fund – Global
    2 Australia 9.09 Functioning democracy Future Fund
    3 Canada 9.07 Functioning democracy Heritage Fund
    4 Ireland 9.01 Functioning democracy NPRF
    5 New Zealand 9.01 Functioning democracy NZSF
    6 United States 8.22 Functioning democracy Alaska Permanent Fund
    7 Japan 8.15 Functioning democracy Potential SWF
    8 United Kingdom 8.08 Functioning democracy
    9 Chile 7.89 Flawed democracy Social and Economic Stabilization Fund
    10 South Korea 7.88 Flawed democracy Korea Investment Corporation
    11 Taiwan 7.82 Flawed democracy National Stabilisation Fund
    12 India 7.68 Flawed democracy Potential SWF
    13 Botswana 7.60 Flawed democracy Pula Fund
    14 Trinidad & Tobago 7.18 Flawed democracy Revenue Stabilisation Fund
    15 Timor-Leste 6.41 Flawed democracy TLP Fund
    16 Colombia 6.40 Flawed democracy
    17 Hong Kong 6.03 Flawed democracy HKMA
    18 Malaysia 5.98 Flawed democracy Khazanah Nasional
    19 Singapore 5.89 Hybrid regime GICS, Temasek
    20 Venezuela 5.42 Hybrid regime FIEM
    21 Uganda 5.14 Hybrid regime
    22 Russia 5.02 Hybrid regime NWF
    23 Jordan 3.92 Authoritarian regime
    24 Morocco 3.90 Authoritarian regime
    25 Egypt 3.90 Authoritarian regime
    26 Kazakhstan 3.62 Authoritarian regime KNF
    27 Niger 3.54 Authoritarian regime
    28 Bahrain 3.53 Authoritarian regime Mumtalakat
    29 Nigeria 3.52 Authoritarian regime Excess Crude Account
    30 Azerbaijan 3.31 Authoritarian regime SOFAZ
    31 Algeria 3.17 Authoritarian regime Revenue Regulation Fund
    32 Mauritania 3.12 Authoritarian regime NFHR
    33 Kuwait 3.09 Authoritarian regime KIA
    34 Tunisia 3.06 Authoritarian regime
    35 Yemen 2.98 Authoritarian regime
    36 China 2.97 Authoritarian regime CIC
    37 Iran 2.93 Authoritarian regime Oil Stabilisation Fund
    38 Sudan 2.90 Authoritarian regime
    39 Qatar 2.78 Authoritarian regime QIA
    40 Oman 2.77 Authoritarian regime State General Reserve Fund
    41 United Arab Emirates 2.42 Authoritarian regime ADIA
    42 Guinea 2.02 Authoritarian regime
    43 Saudi Arabia 1.92 Authoritarian regime SAMA Foreign Holdings
    44 Uzbekistan 1.85 Authoritarian regime
    45 Libya 1.84 Authoritarian regime LAFICO
    Source: Sovereign Wealth Fund Institute, The Economist
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