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**Table 2**

**SWFs with Domestic Investment Mandates**

|**Country**|**Fund**|**Year of**<br>**Establish**<br>**ment**|**Objectives**|**Asset**<br>**Value**<sup>**a**</sup><br>**$ (billion)**|**Domestic**<br>**Portfolio**<br>**(%)**|**Funding**<br>**Source**<sup>**b**</sup>|
|---|---|---|---|---|---|---|
|Abu Dhabi|Investment<br>Council|2007|To assist the government of Abu Dhabi in achieving<br>continuous financial success and wealth protection, while<br>sustaining prosperity for the future.<br>To increasingly participate in and support the sustainable<br>growth of the Abu Dhabi economy.|627.0|n. a.|H|
|Angola<sup>c</sup>|Fundo<br>Soberano de<br>Angola|2012|To generate sustainable financial returns that benefit<br>Angola’s people, economy, and industries.|5|n. a.|H|
|Australia|Future Fund|2005|To strengthen the Australian government’s long-term<br>financial position by making provision for unfunded<br>Commonwealth superannuation liabilities.|75|30|NC|
|Bahrain|Mumtalakat|2006|To create a thriving economy diversified from oil and gas,<br>focused on securing sustainable returns and generating<br>wealth for futuregenerations.|13.5|n. a.|H|
|France|Strategic<br>Investment<br>Fund|2008|To make strategic investments in French firms to prevent<br>them from being bought at discounted prices by foreign<br>investors, through participation and investment in<br>innovative enterprises with a long-term investment<br>horizon.|25.1|100|NC|
|Kazakhstan|Samruk-Kazyna|2008|• To develop and ensure implementation of regional,<br>national, and international investment projects.<br>• To support and modernize existing assets of the Samruk-<br>Kazyna Group of Companies.<br>• To support regional development and implementation of<br>social projects.<br>• To support nationalproducers.|47.4|n. a.|H|
|Malaysia|Kazanah|2003|To promote economic growth and make strategic<br>investments on behalf of the government, contributing to<br>nation-building.<br>To nurture the development of selected strategic industries<br>in Malaysia with the aim of pursuing the nation's long-term<br>economic interests.|34.4|n. a.|NC|
|Nigeria|Nigeria<br>Infrastructure<br>Fund<sup>d</sup>|2011|To invest in projects that contribute to the development of<br>essential infrastructure in Nigeria.|1|100|H|
|Palestine|Palestine<br>Investment<br>Fund|2003|To strengthen the local economy through strategic<br>investments, while maximizing long-run returns for the<br>fund’s ultimate shareholder—thepeople of Palestine.|0.9|80|NC|
|Russia|Russia Direct<br>Investment<br>Fund|2011|To make equity investments in strategic sectors within the<br>Russian economy on a commercial basis by coinvesting<br>with large international investors in an effort to attract<br>long-term direct investment capital.|10.0|n. a.|H|
|South Africa|Public<br>Investment<br>Corporation|1911|To deliver investment returns in line with client mandates.<br>To contribute positively to South Africa’s development.|114.6|n. a.|H|
|Taiwan, China|National<br>Development<br>Fund|1973|To serve as a catalyst for Taiwan, China’s economic<br>development and to accomplish a multiplier effect in the<br>courses of its investmentprocess.|16.1|n. a.|NC|
|United Arab<br>Emirates<br>(UAE)|Mubadala|2002|To facilitate the diversification of Abu Dhabi’s economy,<br>focusing on managing long-term, capital-intensive<br>investments that deliver strong financial returns and<br>tangible social benefits for the Emirate.|641.0|n. a.|H|

_Sources: World Bank Data, based on publicly available information and disclosures from the relevant funds (see references page for a list of websites)._ _Note:_ _a The 2012 Preqin Sovereign Wealth Fund Review._ _b H = hydrocarbons; NCs = noncommodities._

> _c “While the Fund considers investments across Africa and globally, it has a strong focus on investing in the domestic market, building Angola’s infrastructure and creating opportunities for the people of Angola. By taking a long-term view with our investments, we aim to achieve sustainable and stable returns”_ _<u>http://www.fundosoberano.ao/index.php?lang=en</u> ._

_d The Nigeria Investment Fund is one of three funds managed by the Nigeria Sovereign Investment Authority and absorbs between 20 and 60 percent of the authority's funding._ _n. a. Not applicable._ 6