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)
“Thinking is the most unhealthy thing in the world, and people die of it just as they die of any other disease. Fortunately, in England at any rate, thought is not catching. Our splendid physique as a people is entirely due to our national stupidity.”
—Oscar Wilde (1854–1900)
“The nature of women’s oppression is unique: women are oppressed as women, regardless of class or race; some women have access to significant wealth, but that wealth does not signify power; women are to be found everywhere, but own or control no appreciable territory; women live with those who oppress them, sleep with them, have their children—we are tangled, hopelessly it seems, in the gut of the machinery and way of life which is ruinous to us.”
—Andrea Dworkin (b. 1946)
“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)