The first “Sovereign Wealth Fund” (“SWF”) was created in 1954 by the Middle East nation of Kuwait using oil revenues to establish a “fund for the future” to benefit the people of that strategic oil & gas producing country on the west end of the
Persian Gulf.
In the decades since, numerous other nations have created a “SWF” of their own and typically have built sizable portfolios for the ultimate benefit of their citizens. The largest SWF in recent years was the Abu Dhabi Fund (“ADIA”), also in the Middle East — with more than a half-trillion-US dollars in Assets Under Management. The continuing depression in global oil revenues has had a negative impact on that SWF’s investment portfolio, of course.
The investing champion now is the Norway SWF with US$ 1 trillion in AUM. Of significance as well is this country and its SWF having a firm focus on sustainable investing, responsible investing, corporate sustainability — and engagement with key companies in portfolio.
For some companies in portfolio…
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