ChallengesinmanagingtheTTEconomicPlaneCOTE课件.pptVIP

Country Fund Name Assets US$ B Source Inception Year UAE-Abu Dhabi Abu Dhabi Investment Authority $875.5 Oil 1976 Norway Government Pension Fund-( Global) $396.5 Oil 1990 Saudi Arabia SAMA Foreign Holdings $365.2 Oil Kuwait Kuwait Investment Authority $264.4 Oil 1953 Russia National Wealth Fund* $162.5 Oil/ Gas 2008 Qatar Qatar Investment Authority $ 60 Oil/ Gas 2003 Libya Libyan Investment Authority $ 50 Oil / Gas 2006 Algeria Revenue Regulation Fund $47 Oil Gas 2000 Alaska Alaska Permanent Fund $39.8 Oil 1976 Brunei Brunei Investment Agency 30.0 Oil 1983 Notes: *In 2008 Russia separated the National Wealth Fund from the Stabilization Fund. It is estimated that at the time of separation the asset value was around US$ 300 billion Source: Sovereign Wealth Institute Top Ten Oil and Gas Funds Definitions in HStab Fund Petroleum revenues means the aggregate of the supplemental petroleum tax, petroleum profits tax and royalties collected under the Petroleum Taxes Act .IT DOES NOT INCLUDE UNEMPLOYMENT LEVY, THE OIL IMPOST AND SIGNATURE BONUSES Petroleum Business means the business of exploration for and the winning of petroleum and natural gas-IT DOES NOT INCLUDE THE LIQUEFACTION OF NATURAL GAS. Rules of Withdrawal Withdrawals may be made from the FUND when petroleum revenues collected in any financial year fall below the estimated petroleum revenues for that financial year by at least 10% - Amount limited to 60% of the amount of shortfall of petroleum revenues for that year or 25% of the credit balance of the FUND. Rules of Withdrawal No withdrawals may be made from the Fund in any financial year where the balance standing to the credit of the Fund would fall below US$ one (1) billion if such withdrawal were made. Fund Update1 Board has approved an Investment Plan. Short term investments- US/Treasury bills Longer term US Fixed income securities US./developed countries’ equities First Audited Report submitted to Minister and Parliament Sour