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.
Famous quotes containing the words russian, national, wealth and/or fund:
“We are all dead men on leave.”
—Eugene Leviné, Russian Jew, friend of Rosa Luxemburg’s lover, Jogiches. quoted in Men in Dark Times, “Rosa Luxemburg: 1871-1919,” sct. 3, Hannah Arendt (1968)
“Any honest examination of the national life proves how far we are from the standard of human freedom with which we began. The recovery of this standard demands of everyone who loves this country a hard look at himself, for the greatest achievments must begin somewhere, and they always begin with the person. If we are not capable of this examination, we may yet become one of the most distinguished and monumental failures in the history of nations.”
—James Baldwin (1924–1987)
“No man, however benevolent, liberal, and wise, can use a large fortune so that it will do half as much good in the world as it would if it were divided into moderate sums and in the hands of workmen who had earned it by industry and frugality. The piling up of estates often does great and conspicuous good.... But no man does with accumulated wealth so much good as the same amount would do in many hands.”
—Rutherford Birchard Hayes (1822–1893)
“School success is not predicted by a child’s fund of facts or a precocious ability to read as much as by emotional and social measures; being self-assured and interested: knowing what kind of behavior is expected and how to rein in the impulse to misbehave; being able to wait, to follow directions, and to turn to teachers for help; and expressing needs while getting along with other children.”
—Daniel Goleman (20th century)