Top 10 Sovereign Wealth Funds in Asia-Pacific: 2026 Guide

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Temasek's portfolio reached S$518 billion ($401 billion) in March 2026, double its size a decade ago (Temasek Review 2026, July 2026). In the same twelve months Indonesia's Danantara, a fund that did not exist before 2025, began handing its first mandates to outside managers.

For fund managers, the sovereign wealth funds in Asia-Pacific are among the largest pools of state capital in the world. The 10 largest hold nearly $5.5 trillion between them, and three of the top five are in China and Singapore.

Unlike family offices or pension funds, sovereign wealth funds commit larger check sizes, take longer to decide, and increasingly co-invest directly alongside managers instead of relying on fund commitments alone.

Dakota Marketplace maps 20+ sovereign wealth funds across Asia-Pacific, with 145+ verified investment team contacts. What follows are the 10 largest sovereign wealth funds in Asia-Pacific, ranked by assets, that fund managers should prioritize in 2026.

Key Takeaways

• China Investment Corporation is the largest sovereign wealth fund in Asia-Pacific, with total assets of $1.57 trillion (CIC Annual Report 2024).
• The 10 largest sovereign wealth funds in Asia-Pacific hold nearly $5.5 trillion combined, across China, Indonesia, Singapore, Hong Kong, South Korea, Australia, New Zealand and Malaysia.
• Use of outside managers varies widely: China's National Social Security Fund places 73% of its assets with external managers, Hong Kong's Exchange Fund about 29%, and Australia's Future Fund uses more than 100 managers.
• Danantara Indonesia, launched in 2025, is the newest fund on the list and made its first private credit and hedge fund allocations in 2026.
• GIC does not publish its size; Temasek, Singapore's other state investor, reported a S$518 billion ($401 billion) portfolio in March 2026.

Top 10 Sovereign Wealth Funds in Asia-Pacific

The largest sovereign wealth funds in Asia-Pacific in 2026 are China Investment Corporation ($1.57 trillion), Danantara Indonesia (more than $1 trillion) and GIC ($850 billion). China's National Social Security Fund, the Hong Kong Monetary Authority Exchange Fund, Temasek, Korea Investment Corporation, Australia's Future Fund, NZ Super Fund and Khazanah Nasional complete the top 10.

Funds are ranked by their most recent published asset figure, converted to US dollars at early October 2026 rates. GIC does not publish its size, so it is ranked on the figure recorded in Dakota Marketplace. The list covers national sovereign funds; state-owned asset managers such as QIC and policy funds such as the Silk Road Fund are not ranked.

1. China Investment Corporation

$1.57 Trillion | Beijing

China Investment Corporation (CIC) is China's sovereign wealth fund, established in 2007 to manage part of the country's foreign exchange reserves. It reported total assets of $1.57 trillion and net assets of $1.37 trillion at the end of 2024 (CIC Annual Report 2024). The total includes Central Huijin, which holds the state's stakes in China's largest banks and financial institutions.

Investment Focus: A global portfolio run through CIC International and CIC Capital, with alternatives making up 48.5% of overseas holdings at the end of 2024, including private equity, private credit, hedge funds, real estate and infrastructure (CIC Annual Report 2024, via Yicai Global). CIC invests through both in-house teams and external managers.

2. Danantara Indonesia

$1 Trillion+ | Jakarta

Danantara (Daya Anagata Nusantara) is Indonesia's sovereign wealth fund, launched in February 2025 to hold and manage the state's ownership of its government-owned companies. Indonesia's president put its assets at more than $1 trillion in July 2026, with 250 of 1,077 state-owned enterprises due to be closed, consolidated or merged (Cabinet Secretariat of Indonesia, July 2026). Most of that figure is the value of operating companies such as banks, energy groups and telecoms, not a pool of investable cash, and Danantara had not published audited accounts as of August 2026. Its own guide to investable capital is the up to $14 billion it plans to deploy in 2026, funded by dividends from those companies (Danantara chief investment officer, Davos, January 2026).

Investment Focus: Dividends from the state companies are reinvested through Danantara's investment arm into energy, infrastructure, healthcare, technology and agriculture, often with foreign co-investors. In 2026 it began allocating to outside managers, including a private credit mandate reported at $1 billion and a first hedge fund program expected to average about $500 million per manager across three or four managers (Bloomberg and Asia Asset Management, August 2026).

3. GIC

$850 Billion | Singapore

GIC, formerly the Government of Singapore Investment Corporation, is a sovereign wealth fund established in 1981 to manage Singapore's foreign reserves and invests in more than 40 countries. It does not publish the size of its portfolio, describing it only as well over $100 billion; Dakota Marketplace records $850 billion. GIC reported an annualized 20-year real return of 3.4% for the period to 31 March 2026 (GIC Report 2025/26, July 2026).

Investment Focus: A diversified portfolio built from three broad groups: equities, fixed income and real assets. GIC invests across public and private markets, including private equity, real estate and infrastructure, through its own teams and through outside managers. Its private equity Funds and Co-Investments Group commits to buyout, growth and venture funds and co-invests alongside those managers (GIC). It runs offices in New York and San Francisco alongside its Singapore headquarters.

4. National Social Security Fund

$568 Billion | Beijing

The National Social Security Fund (NSSF) is China's national reserve fund, set up in 2000 and managed by the National Council for Social Security Fund (NCSSF) to meet future pension and social security costs. Total assets were RMB 3.81 trillion ($568 billion) at the end of 2025, and the fund returned 13.22% for the year (NSSF 2025 Annual Report, September 2026).

Investment Focus: Mainly domestic, with 84.77% of assets in China and 15.23% overseas. Outside managers run 73.19% of the fund through mandates, with the remaining 26.81% invested directly, making it one of the most manager-reliant sovereign investors in the region (NSSF 2025 Annual Report, September 2026).

5. Hong Kong Monetary Authority Exchange Fund

$565 Billion | Hong Kong

The Exchange Fund is Hong Kong's reserve fund, managed by the Hong Kong Monetary Authority (HKMA). It backs the Hong Kong dollar while preserving the long-term purchasing power of the territory's reserves. Total assets stood at HK$4,403.7 billion ($565 billion) at 31 July 2026 (HKMA, August 2026). The fund returned 8.0% in 2025 (HKMA, January 2026).

Investment Focus: Two main portfolios: a Backing Portfolio of highly liquid US dollar assets, and an Investment Portfolio invested mainly in global bonds and equities. Private equity and real estate sit in the Long-Term Growth Portfolio, which has returned an annualized 11.2% since its 2009 launch (HKMA, January 2026). External managers run about 29% of the Exchange Fund's assets, including all of its listed equity portfolios (HKMA).

Dakota Marketplace tracks sovereign wealth fund investment teams across Asia-Pacific, the Gulf, and Europe, with direct contacts and investment posture data for each. Book a Demo to see full coverage.

6. Temasek

$401 Billion | Singapore

Temasek (Temasek Holdings) is an investment company owned by the Singapore government, incorporated in 1974, and is counted alongside GIC as one of Singapore's two sovereign wealth funds. Its net portfolio value was S$518 billion ($401 billion) at 31 March 2026, up S$49 billion in a year, and it invested S$51 billion during the year (Temasek Review 2026, July 2026). Temasek owns and manages its portfolio as an active shareholder.

Investment Focus: Three segments: Singapore-based portfolio companies (43%), global direct investments (38%), and partnerships, funds and asset management companies (19%) (Temasek Review 2026, July 2026). The third segment is where outside managers fit, alongside co-investment in direct deals.

7. Korea Investment Corporation

$232 Billion | Seoul

Korea Investment Corporation (KIC) is South Korea's sovereign wealth fund. It manages assets entrusted by the South Korean government and the Bank of Korea, investing them in foreign currency assets overseas. Assets reached a record $232 billion at the end of 2025 after a 13.91% return for the year (Asia Asset Management, February 2026). KIC has offices in New York, London, Singapore, San Francisco and Mumbai.

Investment Focus: Equities and bonds make up 78.1% of assets and alternatives 21.9%, across private equity, real estate, infrastructure, hedge funds and private debt (Asia Asset Management, February 2026). KIC invests in alternatives both directly and through external fund managers. South Korea also plans a second, KRW 20 trillion ($14 billion) strategic fund housed within KIC, with operations targeted for 2027.

8. Future Fund

$202 Billion | Melbourne

The Future Fund is Australia's sovereign wealth fund, established in 2006 to strengthen the Commonwealth's long-term financial position. It stood at A$289.7 billion ($202 billion) at 30 June 2026 after returning 14.8% for the year, and its 10-year return of 9.0% is ahead of its 7.1% target (Australian Treasury, August 2026).

Investment Focus: A whole-of-portfolio approach across listed equities, private equity, property, infrastructure, credit and alternatives. The Future Fund has historically invested only through external investment managers and uses more than 100 of them; since 2025 it has also been able to manage Australian infrastructure and property assets itself (Investment Magazine, June 2025). Since its mandate was updated it has committed A$3.5 billion to direct investments in Australian national priority areas (Australian Treasury, August 2026).

9. NZ Super Fund

$53 Billion | Auckland

The NZ Super Fund is New Zealand's sovereign wealth fund, managed by the Guardians of New Zealand Superannuation, a Crown entity established in 2001. It reached NZ$94.4 billion ($53 billion) at 30 June 2026 after returning 14.17% for the year (interest.co.nz, September 2026). The fund exists to help pay for the future cost of universal superannuation.

Investment Focus: A global portfolio measured against a passive Reference Portfolio of 80% equities and 20% bonds, with active strategies added where the Guardians see an edge. Money is managed by an in-house team and by a small group of external managers across public equities, private equity, real estate and infrastructure, with co-investment alongside them.

10. Khazanah Nasional

$38 Billion | Kuala Lumpur

Khazanah Nasional is Malaysia's sovereign wealth fund. Total assets rose to RM 156 billion ($38 billion) at the end of 2025, with net assets of RM 105 billion and a 5.2% return for the year (Khazanah, February 2026). It has offices in Shanghai, Mumbai, Istanbul and New York.

Investment Focus: About 60% of assets are invested in Malaysia, with the remainder in Asia, EMEA and North America across public and private markets. Khazanah also backs outside managers through Jelawang Capital, Malaysia's national fund of funds, launched in 2024 with RM 1 billion to commit to venture and growth managers (The Star, August 2026).

Frequently Asked Questions

What is the largest sovereign wealth fund in Asia-Pacific?

China Investment Corporation (CIC), based in Beijing, with total assets of $1.57 trillion at the end of 2024. Danantara Indonesia is second by headline assets at more than $1 trillion, though most of that is the value of state-owned companies.

How much do the largest sovereign wealth funds in Asia-Pacific manage?

The 10 largest hold nearly $5.5 trillion combined on their latest published figures. The top five, China Investment Corporation, Danantara Indonesia, GIC, China's National Social Security Fund and the Hong Kong Monetary Authority Exchange Fund, account for about $4.5 trillion of that.

How many sovereign wealth funds are there in Asia-Pacific?

There is no single official count, because definitions differ. Dakota Marketplace tracks 20+ sovereign wealth funds across Asia-Pacific, in China, Hong Kong, Singapore, South Korea, Japan, Taiwan, Malaysia, Indonesia, Australia and New Zealand.

Do Asia-Pacific sovereign wealth funds invest with external fund managers?

Yes, but to very different degrees. The Future Fund uses more than 100 external managers, Hong Kong's Exchange Fund places about 29% of its assets with them, and China's National Social Security Fund places 73%. Temasek and Khazanah mainly invest directly, with funds and co-investment as a smaller part of the portfolio.

Which Asia-Pacific sovereign wealth funds are in Singapore?

GIC and Temasek. GIC manages Singapore's foreign reserves and does not publish its size. Temasek is a state-owned investment company with a S$518 billion ($401 billion) portfolio at 31 March 2026.

What is the largest sovereign wealth fund in Australia and New Zealand?

Australia's Future Fund, at A$289.7 billion ($202 billion) at 30 June 2026. The NZ Super Fund is New Zealand's sovereign wealth fund, at NZ$94.4 billion ($53 billion) on the same date.

Which Asia-Pacific sovereign wealth fund is the newest?

Danantara Indonesia, launched in February 2025. It made its first allocations to outside private credit and hedge fund managers in 2026. South Korea plans a new KRW 20 trillion strategic fund within Korea Investment Corporation, targeted to start in 2027.

Track Sovereign Wealth Funds with Dakota Marketplace

Dakota Marketplace maps 20+ sovereign wealth funds across Asia-Pacific, with 145+ verified investment team contacts, from established giants like GIC and Temasek to newer vehicles like Danantara that are changing how the region deploys capital.

Our Marketplace lets you filter by:

• Geography and country of origin
• AUM and typical deal or fund commitment size
• Direct investing vs. external manager allocation posture
• Investment team contacts with direct emails

For fund managers, knowing which sovereign investors are building direct deal capability and which still rely on outside managers is the difference between a cold pitch and a warm one.

Book a demo to see the full sovereign wealth fund coverage in Asia-Pacific!