| Despite the substantial financial surpluses Saudi Arabia has accumulated over the past few decades, it is the only major oil producing country without a proper sovereign wealth fund (SWF). There are of course several institutions managing those surpluses, but not in the usual SWF format.
Most countries with financial windfalls, whether from oil and gas or other sources, have established SWFs to invest those surpluses over the long run to help weather financial crises and preserve wealth for future generations. The SWF Institute estimates the values of those funds at about $7.3 trillion globally, $4.2 of which belong to oil and gas producers, primarily GCC countries..............................................Full Article: Source
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