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)
“The American, if he has a spark of national feeling, will be humiliated by the very prospect of a foreigner’s visit to Congress—these, for the most part, illiterate hacks whose fancy vests are spotted with gravy, and whose speeches, hypocritical, unctuous, and slovenly, are spotted also with the gravy of political patronage, these persons are a reflection on the democratic process rather than of it; they expose it in its process rather than of it; they expose it in its underwear.”
—Mary McCarthy (1912–1989)
“and I really hope no white person ever has cause to write about me
because they never understand Black love is Black wealth and
they’ll
probably talk about my hard childhood and never understand that
all the while I was quite happy.”
—Nikki Giovanni (b. 1943)
“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)