Dr Tatiana Fic

Director, Central Banks and Public Policy

World Gold Council

Assets of Russia’s National Wealth Fund to be invested in gold

The Russian Minister of Finance, Anton Siluanov, recently announced that 20% of the assets of the National Wealth Fund (NWF), the Russian public pension fund, will be invested in gold. Within the next couple of weeks Russia will change the structure of the NWF’s investment portfolio, entirely removing the US dollar, halving the share of the British pound and shifting to the euro, the Chinese yuan and gold.