Most of the capital of sovereign wealth funds concentrated in Asia and the Middle East

The world's sovereign wealth funds currently hold assets of more than $13 trillion, and most of this capital is concentrated in Asia and the Middle East, where export surpluses and energy revenues have fueled massive state-owned funds. At the same time, Norway stands out with the largest individual fund, which exceeds $2.1 trillion, according to an analysis by visualcapitalist.com.

The cited source has compiled a ranking of the largest sovereign wealth funds using 2026 data from Global SWF, showing where state capital is concentrated worldwide and which countries control the largest sovereign funds.

• Norway's $2 trillion investment fund - the largest

Norges Bank Investment Management (NBIM) was created in 1990 to channel excess oil revenues into long-term investments. As of 2026, the fund will have over $2.1 trillion in assets under management, making it the world's largest sovereign wealth fund.

Given Norway's relatively small population of just five million, this translates to over $350,000 for every citizen.

The Norwegian government has used NBIM to help the country avoid the "resource curse” that afflicts many oil-dependent economies. By investing in diversified global assets, the country has built up a reserve fund for future public investment and sustainable development.

• Numerous funds in the Middle East

Norway is not the only country to invest its oil and gas revenues in a government-managed fund. Across the Middle East, similar sovereign wealth funds have been established in Saudi Arabia ($1.3 trillion), Kuwait ($1 trillion), and Qatar ($580 billion).

In the United Arab Emirates, both the national government and individual emirate governments have followed suit, with more than $2.6 trillion in assets under management in 2026.

Even non-oil Middle Eastern states have opened sovereign wealth funds in recent years. Turkey's sovereign wealth fund, created in 2016, has more than $360 billion in assets under management, including holdings across the country, such as a sizeable minority stake in Turkish Airlines and full ownership of the Port of Izmir.

• The world's newest sovereign wealth fund, in Canada

Canada is the latest country to join the club, according to the source. In April 2026, Prime Minister Mark Carney announced the Canada Strong Fund, a new $18 billion fund that, upon launch, will be the 55th largest sovereign wealth fund of its kind in the world.

The Canadian government hopes to use the fund to invest in strategic priorities across the country as it seeks to diversify trading partners and reduce its reliance on the United States.

Revenues from oil, mining, and gas will play a role in bolstering the fund's capital, similar to the $88 billion Alaska Permanent Fund, a U.S. state-level sovereign wealth fund that pays an annual dividend to Alaska residents.

Carney has made it a priority to increase Canada's attractiveness to investors around the world, according to Bloomberg. In November 2025, his government announced its target of attracting C$500 billion ($367 billion) in private investment over five years and signaled a willingness to accelerate approvals and construction of projects, including ports, pipelines and other export infrastructure.

Carney said: "These projects will make Canada stronger, more resilient and more independent. They will create good jobs and grow our economy.”

In early April, the Canadian government said it would host a global investment summit this year, alongside the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, two public pension administrators that together manage more than C$1 trillion.