Russian National Wealth Fund is Russia's Sovereign Wealth Fund. It was created after the Stabilization Fund of the Russian Federation was split into two separate investment funds on 30 January 2008. The two funds are Reserve Fund, which is invested abroad in low-yield securities and used when oil and gas incomes fall, and the National Wealth Fund, which invests in riskier, higher return vehicles, as well as federal budget expenditures. The Reserve Fund was given $137,09 billion and the National Welfare Fund was given $87,97 billion. The fund is controlled by the Ministry of Finance.
The National Wealth Fund will receive funds from investments returns or any excess funds that the Reserve Fund produces. The Reserve Fund is capped at 10% of Russian GDP and any funds over that will be given to the Wealth Fund.
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“Annie: Dances like Pavaliver, that child.
George Grainger: Dances like who?
Annie: Pavaliver—the Russian dancer. Don’t be so ignorant.”
—Reginald Berkeley (1890–1935)
“[D]rilling and arming, when carried on on a national scale, excite whole populations to frenzies which end in war.”
—Franklin D. Roosevelt (1882–1945)
“Great Wits are sure to Madness near alli’d
And thin Partitions do their Bounds divide;
Else, why should he, with Wealth and Honour blest,
Refuse his Age the needful hours of Rest?”
—John Dryden (1631–1700)
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—Daniel Goleman (20th century)