  Sovereign wealth funds are created in those countries whose budget is highly
dependent on market factors, usually world commodity prices. At the same time,
these funds are large institutional investors. An analysis of the nature of
investments by the State Pension Fund Global of Norway showed that investments
of the Fund are based on a seven-level model of diversifying its investments.
This model can also be applied to the investments of the National Wealth Fund
of Russia to increase its profitability.
