Sovereign Fund of Brazil
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The Sovereign Fund of Brazil (in Portuguese Fundo Soberano do Brasil; FSB) is the sovereign wealth fund of Brazil, established on 24 December 2008.[1] It is a new non-commodity fund which is required to support national companies in their export activities and more broadly to act as a mechanism for anti-cyclical development, promoting investment in projects of strategic interest to Brazil abroad and internally.[2] On the day of its establishment, it was injected with 14.243 billion Brazilian reals.
Governance
Due to the national importance of the fund’s activities, its advisory board is composed of the governmental ministers of planning and finance, as well as the president of the central bank.[1] This board is responsible for approving the general guidelines and goals of the FSB’s investments. The Brazilian National Treasury is responsible for operating the fund.[1]
References
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