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Sovereign Wealth Fund

10 Largest Sovereign Wealth Funds In North America

by trusted insight posted 3years ago 5246 views

Sovereign wealth funds may not make newspaper headlines often, but they play an increasingly important role in global capital markets, as their asset size has continuously grown in recent years. The value of all sovereign wealth funds worldwide reached $6.51 trillion in March 2016, more than doubling the number in 2008, according to the 2016 Preqin Sovereign Wealth Fund Review.

By common knowledge, the history of sovereign wealth funds dates back to the 1950s, when countries created these funds out of budgetary surplus. Kuwait Investment Authority, which was founded in 1953 to invest in oil and currently manages a portfolio of $592 billion, claimed itself as world’s oldest sovereign wealth fund. 

Perhaps not so in North America. Some U.S. states established wealth funds for specific social and economic purposes as early as 150 years ago. Oregon Common School Fund, for instance, was incepted in 1859 to support educational causes and is still actively managed by the Oregon State Lands Department today. Although these state-run funds are as large in asset size as those multi-hundred-billion funds in Middle East countries, they represent an important group of institutional investors in financial markets.

This week, Trusted Insight lists 10 notable sovereign wealth funds in North America, including U.S. and Canadian government-controlled funds at state, province and country levels. (AUM information is based on the most recent financial data available.)

 


10. The Louisiana Education Quality Trust Fund
Controlling Entity: Louisiana Department of the Treasury
Year Founded: 1986
AUM: $1.2 billion
Wealth Origin: Oil and Gas

09. Oregon Common School Fund
Controlling Entity: Oregon State Lands Department
Year Founded: 1859
AUM: $1.45 billion

08. Alabama Trust Fund
Controlling Entity: Alabama State Treasurer
Year Founded: 1985
AUM: $2.5 billion
Wealth Origin: Oil and Gas

07. North Dakota Legacy Fund
Controlling Entity: North Dakota State Treasurer
Year Founded: 2010
AUM: $3.2 billion
Wealth Origin: Oil and Gas

06. Permanent Wyoming Mineral Trust Fund
Controlling Entity: Wyoming Taxpayers Association
Year Founded: 1975
AUM: $5.6 billion
Wealth Origin: Minerals

05. Alberta Heritage Savings Trust Fund
Controlling Entity: Alberta Province Treasury Board and Finance (Canada)
Year Founded: 1976
AUM: $17.9 billion
Wealth Origin: Oil

04. New Mexico Permanent Funds
Controlling Entity: New Mexico State Investment Council
Year Founded: 1958
AUM: $19.8 billion
Wealth Origin: Oil and Gas

03. Texas Permanent School Fund
Controlling Entity: Texas
Year Founded: 1854
AUM: $37.7 billion
Wealth Origin: Oil and Other

02. Alaska Permanent Fund
Controlling Entity: Alaska Permanent Fund Corporation
Year Founded: 1976
AUM: $52.4 billion
Wealth Origin: Oil

01. Canada Pension Plan
Controlling Entity: Canada Pension Plan Investment Board
Year Founded: 1966
AUM: $278.9 billion