Does the United States Have a Sovereign Wealth Fund?
Posted on 08/12/2021
The United States does not have a federal sovereign wealth fund. However, there are a number of state funds, also known as permanent funds, throughout the country that derive their wealth from a wide range of sources including fossil fuels. Some of these state funds include the Alabama Trust Fund, Texas Permanent School Fund, Texas Permanent University Fund, Wyoming Permanent Fund, New Mexico State Investment Council, and the Alaska Permanent Fund Corporation.
In the United States, a permanent fund is one of the five governmental fund types established by GAAP. It is classified as a restricted true endowment fund for governments and non-profit organizations.