SOVEREIGN WEALTH FUNDS AS AN ELEMENT OF ECONOMIC GOVERNMENTAL SECURITY
This article focuses on the main characteristics of the sovereign wealth funds referring to the economic security of a state. The authors also perform the analysis of the legislation of the sovereign wealth funds in Russia. The article includes the analysis of the statistical data, describing the volumes of investments, number and geographical distribution of the sovereign wealth funds in the world. The results of the analysis show that despite some changes in the last years, the Reserve Fund and the Fund of national welfare of Russia still need significant improvements in their economic and legislative aspects. It is necessary to create a mechanism of such regulation of their activities, which would implement the governmental and public control over their operation and efficient use of financial resources.