(a) whether a final decision has been taken to set up a `Sovereign Wealth
Fund`, in the countryz
(b) if so, details thereof and if not, the reasons therefor alongwith
the manner in which the Government plan to finance such fund;
(c) whether similar fund is in existence in some neighbouring countries;
(d) if so, details thereof;
(e) whether models of `Sovereign Wealth Funds` from other nations have been studied; and
(f) if so, details thereof?
MINISTER OF STATE IN THE MINISTRY OF FINANCE SHRI NAMO NARAIN MEENA
(a) No, Sir.
(b) Various issues relating to the setting up of the Sovereign Wealth Fund
(SWF), including the financing of such a Fund, have to be finalised before
a final decision is taken in the matter.
(c) & (d): Ministry of Finance does not maintain records of SWFs in other
countries. However, SEBI has informed that they have granted registration
to some FIIs under the category of Sovereign Wealth Fund/Foreign Governmental
agency/ Foreign Central Bank. The list of such Funds is placed at Annexure-A.
(e) & (f): The Planning Commission had prepared a proposal for the creation
of a “Strategic Energy Fund†for India, after a study of major SWFs based
in different countries.
In their study, SWFs have been broadly concluded to have been created by
the exporters of oil and gas, copper, diamonds, phosphates and other
minerals (30 SWFs), by countries with persistent and large current
account surpluses (5 SWFs), and by countries that do not have a history
of persistent current account surpluses and have been set up for somewhat
diverse objectives (4 SWFs).
In their proposal, the Planning Commission has inter-alia examined the
sources of financing and objectives of these SWFs.
Annexure A
S No. FII Name and Registration No. Country
1. INAUFD196208 - Future Fund Board Of Guardians Australia
2. INBNFD182108 - Brunei Investment Agency Brunei
3. INCAFD107205 - Government Of The Province Of Alberta Canada
4. INCAFD159407 - Caisse De Depot Et Placement Du Quebec Canada
5. INCAFD189308 - Canada Pension Plan Investment Board Canada
6. INCIFD194208 - National Social Security Fund (NSSF) China
7. INCNFD237010 - Best Investment Corporation China
8. INCNFD260811 - People`s Bank of China China
9. INIRFD188608 - National Pensions Reserve Fund Commission Ireland
10. INKUFA038296 - Kuwait Investment Authority Kuwait
11. INKUFD118105 - Kuwait Fund For Arab Economic Development Kuwait
12. INMUFD170707 - Port Louis Fund Ltd Mauritius
13. INMUFD202508 - Doha Investment Company Qatar
14. INMYFD140506 - Khazanah Nasional Berhad Malaysia
15. INMYFD226609 - Bank Negara Malaysia Malaysia
16. INNHFD045997 - Stichting Pensioenfonds Abp Netherlands
17. INNOFD108405 - Norges Bank Norway INNZFD156607 - Guardians Of New Zealand Superannuation AS Manager And Administrator Of The Zealand Superannuation New Zealand
18. Fund,For The New New ZealandSuperannuation Fund 19. INNZFD190508 - Government Superannuation Fund New Zealand
20. INOMFD227209 - Oman Investment Fund Oman INOMFD243010 – State General Reserve Fund of the Ministry of Oman
21. Finance of the Sultanate of Oman 22. INSGFA133506 - Fullerton Fund Management Company Ltd. Singapore
23. INSGFD127906 - The Monetary Authority Of Singapore Singapore INSGFD128006- Monetary Authority of Singapore (As Trustee of Singapore 24. FSDF) INSGFE005693 - Government Of Singapore Investment Singapor
25. Corporation Pte Ltd
26. INSKFD206108 - The Bank of Korea Korea
27. INSKFD257311 - Ministry Of Strategy And Finance Korea
28. INUEFD188908 - Abu Dhabi Investment Council UAE
29. INUEFE007893 - Abu Dhabi Investment Authority UAE
30. INUSFA063400 - Alaska Permanent Fund USA
31. INUSFD076002 - State Of New Mexico State Investment USA Council