Overview
Future Heritage Fund assets secured at the Bank of Mongolia Future Heritage Fund assets were fully ring-fenced into a foreign currency account held at the Bank of Mongolia.1
Mongolia Future Heritage Fund's investment capital supports sovereign or public-sector financial objectives.1
Investment program
- Estimated AUM
- $1.6B as of Dec 31, 20252
- Capital pool
- state-owned permanent/stabilization fund (mineral-royalty-funded)1
- Investment model
- Not listed yet1
- Investment approach
- Foundation of Chinggis Khaan Sovereign Wealth Fund The Law on the Future Heritage Fund was enacted, establishing a long-term savings system to set aside part of mineral revenues for Mongolia’s future generations.1
- Spending support
- Not listed yet
- Spending policy
- Not listed yet
- Asset allocation
- Public evidence references these asset classes or allocation areas: infrastructure.2
- Performance
- Not listed yet
- Governance
- This marked the official commencement of professional management of the fund’s assets in accordance with the investment policy.1
- Investment team
- Paul O'Brien (USA) Trustee Wyoming RS ex-Deputy CIO, ADIA ex-PM, Morgan Stanley PhD Minnesota, SB MIT Stephan Schubert (Abu Dhabi) P.2
- Unfunded commitments
- Not listed yet
- Source freshness
- Last verified Jul 21, 2026 · Needs review
Sources
Last verified Jul 21, 2026 from public career and organization materials.
Fact notes
- Website (swf.gov.mn)Parent organization overview, Pool purpose, Capital pool, Investment model, Investment approach, Governance, Investment office page · checked Jul 25, 2026
- Website (swf.gov.mn)Estimated AUM, Asset allocation, Investment team · checked Jul 25, 2026
Profile and job sources
- Website (swf.gov.mn)Website · checked Jul 25, 2026
- Website (swf.gov.mn)Website · checked Jul 25, 2026
- Primary job/profile sourceJob posting · checked Jul 21, 2026