| Scotland plans to form an oil fund from the oil revenues collected by the government. This fund will be similar to an oil fund set up by Norway in 1990, which is worth USD 450 billion and is the largest sovereign wealth fund in the world.
Many other oil funds have been created by companies with major oil and gas reserves in order to hedge against change in oil prices and to reinvest for further development of hydrocarbon resources. In recent years, new oil funds have been established. Of the thirty-six commodity based funds monitored by the Sovereign Wealth Fund Institute, twenty-three were created after 2000...............................................Full Article: Source
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