世界最大主权财富基金

[JClub]

As of early 2025 data:

1. Norway Government Pension Fund Global: (Norway): Over $1.7 trillion, heavily invested in global stocks, including major tech companies.
2. China Investment Corporation: (China): Over $1.3 trillion.
3. SAFE Investment Company: (China): Over $1 trillion.
4. Abu Dhabi Investment Authority: (UAE): Over $1 trillion.
5. Kuwait Investment Authority: (Kuwait): Over $1 trillion.
6. Public Investment Fund: (Saudi Arabia): Around $925 billion - $1.1 trillion.
7. GIC Private Limited: (Singapore): Over $800 billion.
8. Badan Pengelola Investasi Daya Anagata Nusantara (INA): (Indonesia): Around $600 billion.
9. Qatar Investment Authority: (Qatar): Over $525 billion.
10. Hong Kong Monetary Authority Investment Portfolio: (Hong Kong): Over $510 billion.

卡塔尔排 No 9， Carney是第一位访问卡塔尔的在职加拿大总理。

 

[JClub]

Canada does not have a single, centralized national sovereign wealth fund like Norway’s Government Pension Fund Global. Instead, Canada uses a decentralized model made up of large public-sector investment funds that function similarly to sovereign wealth funds.
Here’s a clear breakdown

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Does Canada have a sovereign wealth fund?​

No — not in the traditional sense.

• The federal government does not pool resource revenues or budget surpluses into one national fund.
• Canada generally uses revenues for current spending, debt reduction, or transfers.

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Canada’s “sovereign-wealth-like” funds​

Although not officially SWFs, these funds are government-owned, invest globally, and manage hundreds of billions of dollars.

1. Canada Pension Plan Investment Board (CPPIB)​

• Assets: ~CAD $600+ billion (largest in Canada)
• Purpose: Invests CPP contributions to fund future pensions
• Investments: Global equities, bonds, real estate, infrastructure, private equity
• Comparable to: A top-tier sovereign wealth fund in scale and sophistication

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2. Public Sector Pension Investment Board (PSP Investments)​

• Assets: ~CAD $250+ billion
• Serves: Federal public servants, Canadian Forces, RCMP
• Global investor across asset classes

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3. Caisse de dépôt et placement du Québec (CDPQ)​

• Assets: ~CAD $450+ billion
• Role: Manages Québec public pension funds
• Distinct feature: Strong focus on Québec economic development
• Often cited internationally alongside sovereign wealth funds

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4. Ontario Teachers’ Pension Plan (OTPP)​

• Assets: ~CAD $250+ billion
• Known for: Direct ownership of global infrastructure and companies

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Provincial resource-based funds (closer to classic SWFs)​

Alberta Heritage Savings Trust Fund​

• Founded: 1976
• Assets: ~CAD $20–25 billion
• Source: Oil & gas revenues
• Purpose: Long-term savings, income generation, economic diversification
• This is Canada’s closest example to a “true” sovereign wealth fund

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Why Canada chose this model​

• Federal system → provinces control natural resources
• Strong public pension framework already in place
• Political preference for independent, arm’s-length investment managers

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How Canada compares internationally​

Country	Model
Norway	Single national SWF (oil revenues)
China	Multiple state-owned SWFs
Canada	Pension-fund-driven, decentralized
Australia	Future Fund (federal)

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Bottom line​

Canada doesn’t need a classic SWF because its public pension funds already act as global institutional investors with sovereign-level scale and influence.
If you want, I can:

• Compare Canada’s model to Norway or China
• Explain why Canada never created a national oil fund
• Discuss political debates about creating one