Does France have a sovereign wealth fund? (2024)

Does France have a sovereign wealth fund?

Presentation. Bpifrance

Norway's sovereign wealth fund, the world's largest, was established in the 1990s to invest the surplus revenues of the country's oil and gas sector. To date, the fund has put money in more than 8,500 companies in 70 countries around the world.

OSLO, Oct 6 (Reuters) - Norway's minority government said on Friday it plans to raise spending in 2024 from the country's $1.4 trillion sovereign wealth fund, the world's largest, despite rampant inflation that has hit households and businesses.

The most active sovereign investors last year – in terms of new investments – were two Singapore funds: Temasek and GIC. Middle Eastern funds Mubadala Investment Company, Abu Dhabi Investment Authority, Qatar Investment Authority and Public Investment Fund also topped the list.

While the U.S. as a whole does not have a sovereign wealth fund, several of its states do. These funds, however, are nowhere near as big as the international ones listed above. The largest in the U.S. is the Alaska Permanent Fund Corporation, established in the early 1980s, which has roughly $67 billion in assets.

China is home to one of the world's largest sovereign funds, China Investment Corporation. CIC's total assets under management reached about $1.24 trillion at the end of 2022, bigger than Saudi Arabia's 2022 GDP (about $1.1 trillion). Saudi Arabia was the 17th largest economy in the world in 2022.

Canada has several existing provincial and territorial sovereign wealth funds that invest resource wealth on behalf of citizens: the Quebec Generations Fund, the Alberta Heritage Savings Fund, the Newfoundland & Labrador Future Fund, and the Northwest Territories Heritage Fund.

Britain did not opt for such a scheme when its North Sea oil boom began in the 1970s. Instead, successive governments used the proceeds from oil and gas fields to keep public borrowing down rather than to build a fighting fund to tackle long-term problems such as our ageing population.

The Israeli Citizens' Fund (Hebrew: קרן לאזרחי ישראל, Keren LeEzraḥei Yisra'el) is a sovereign wealth fund in Israel. It was established to handle projected future windfall profits expected from the discovery of the Tamar and Leviathan gas fields. The fund will be managed by the Bank of Israel.

The fund is for the citizens of Norway. “The aim of the fund is to ensure responsible and long-term management of revenue from Norway's oil and gas resources, so that this wealth benefits both current and future generations.” Today the fund is worth nearly $275,000 for every citizen of Norway.

Who owns BlackRock?

BlackRock is publicly owned, with its shares held by various shareholders, including institutional investors like Vanguard Group and State Street Corporation and individual shareholders. The specifics of these shareholders can change over time.

Created in the 1990s to manage Norway's oil and gas revenues abroad, the fund is the world's biggest single owner of equities. Its returns are highly dependent on market movements.

The USA is quite unique in the world. And in a very real way, it is not a Sovereign Entity, except in matters of Treaty and Defense. So, that's why. The Federal government hold no wealth beyond the Federal Reserve.

Despite the advantages, SWFs are not without their drawbacks. One concern is the potential for mismanagement and corruption. Poor governance and lack of transparency can lead to funds being misappropriated or invested in risky ventures, resulting in significant financial losses.

US Treasurys Owned by China, in USD Billions

As of Oct. 2022, China owns $769.6 billion of the total $7,565 billion U.S. national debt.

At the end of 2021, of the 98 countries for whom data was available, Pakistan ($27.4 billion of external debt to China), Angola (22.0 billion), Ethiopia (7.4 billion), Kenya (7.4 billion) and Sri Lanka (7.2 billion) held the biggest debts to China.

Sovereign Wealth Funds

Solidium is a holding company that is fully owned by the State of Finland. Although it is not explicitly a sovereign wealth fund, Solidium's mission is to manage and increase the long-term value of the listed shareholdings of the Finnish State.

What is the Denmark wealth fund?

Vækstfonden (Danish Growth Fund) is a Sovereign Wealth Fund located in Hellerup Denmark, Europe, and was founded in 1992. Current Assets for Danish Growth Fund is $4,002,381,586 and SWFI has 7 periods of historical assets, 2 personal contacts available for CSV Export.

Unknown to the general American public is that there are twenty-one domestic sovereign wealth funds in the United States of America. While there are twenty-one domestic sovereign wealth funds, only twenty states have a domestic sovereign wealth fund as Texas has two.

Many nations use sovereign wealth funds as a way to accrue profit for the benefit of the nation's economy and its citizens. The primary functions of a sovereign wealth fund are to stabilize the country's economy through diversification and to generate wealth for future generations.

The funding for a SWF can come from a variety of sources. Popular sources are surplus reserves from state-owned natural resource revenues, trade surpluses, bank reserves that may accumulate from budgeting excesses, foreign currency operations, money from privatizations, and governmental transfer payments.

For more than 40 years local demand fueled Israeli industrial expansion, as the country's population grew rapidly and the standard of living rose. More recently, world demand for Israeli advanced technologies, software, electronics, and other sophisticated equipment has stimulated industrial growth.