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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“To be born in a new country one has to die in the motherland.”
—Irina Mogilevskaya, Russian student. “Immigrating to the U.S.,” student paper in an English as a Second Language class, Hunter College, 1995.
“I came here for one thing only, to try to help national Ireland—and if there is no such thing in existence then the sooner I pay for my illusions the better.”
—Roger Casement (1864–1916)
“The wealth and prosperity of the country are only the comeliness of the body, the fullness of the flesh and fat; but the spirit is independent of them; it requires only muscle, bone and nerve for the true exercise of its functions. We cannot lose our liberty, because we cannot cease to think.”
—Humphry, Sir Davy (1778–1829)
“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)