Russia’s Finance Ministry has allowed the National Wealth Fund (NWF) to diversify its assets by investing part of the funds into precious metals, including gold.
The share of gold, which is seen as one of the most “protective” assets, has been significantly boosted in Russia’s foreign exchange reserves, the ministry said.
The step is aimed at diversifying the assets allocated by the NWF for ensuring the safety of the funds, as well as for increasing the yields, according to the ministry which will make the draft public in the near future.
Finance Minister Anton Siluanov had previously supported the idea of allocating the NWF assets more efficiently, highlighting that precious metals are much more sustainable for investments than financial market assets in the long-term.
In February, the Ministry of Finance reduced the portion of US dollars and euros in the currency structure of its National Wealth Fund from 45% to 35%. Instead, it turned to more Japanese yen and increased the share of assets held in the Chinese yuan by 15%. State investors retained a 10% stake in the British pound.
The NWF, a part of Russia’s federal budget assets, was created to support the national pension system. Its funds can be used to cover budget deficits in times of crisis. As of November 1, the assets of the fund amounted to more than $167 billion, which is about 12% of the country’s GDP.
Russia’s Finance Ministry has allowed the National Wealth Fund (NWF) to diversify its assets by investing part of the funds into precious metals, including gold. Read Full Article at RT.com Read More
Peter Schweizer, author of the book “Red-Handed: How American Elites Get Rich Helping China,” said the Chinese Communist Party’s (CCP) entry into the WTO changed the global economic structure in large part because it unleashed the regime’s strategy of gaining control of America’s elite class so they would do Beijing’s bidding. Schweizer calls this strategy […]
It’s “the ability to disregard fear.” That’s how the Oxford Dictionary defines courage. There are many things of which we’re fearful, and whether or not we face most of them is unimportant. Disregarding a fear of spiders to kill one doesn’t constitute courage. The Oxford Dictionary places the definition in context by further stating “the courage […]
All Global Research articles can be read in 27 languages by activating the “Translate Website” drop down menu on the top banner of our home page (Desktop version). *** ‘Know Thyself’ On a tombstone in an English churchyard is the … The post The Indivisibility of Life appeared first on Global Research. All Global Research articles can be […]
