Allocator CareersUpdated Jul 21, 2026
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Sovereign wealth

Pula Fund (Botswana)

Commodity-based (diamond/mineral revenue) sovereign wealth fund, managed as part of national foreign exchange reserves1 — Gaborone.

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Overview

Read about Botswana's Adherence to the Santiago Principles Performance The Pula Fund has increased substantially in value (when measured in both domestic and foreign currency) in real terms since it was established in 1994.1

Pula Fund (Botswana)'s investment capital supports sovereign or public-sector financial objectives.1

Investment program

Estimated AUM
$2B as of Oct 31, 20252
Capital pool
Commodity-based (diamond/mineral revenue) sovereign wealth fund, managed as part of national foreign exchange reserves1
Investment model
The Pula Fund uses a mixed model: the Bank of Botswana’s Financial Markets Department executes strategy through internally managed funds and external managers, with investment consultants also available.3
Investment approach
Source of funds The Pula Fund is a long-term fund and forms part of the overall foreign exchange reserves.1
Spending support
Not listed yet
Spending policy
Not listed yet
Asset allocation
Public evidence references these asset classes or allocation areas: infrastructure, public markets, fixed income.4
Performance
Not listed yet
Governance
Not listed yet1
Investment team
Governance includes a Board approving policy and strategic allocation, an Investment Committee chaired by the Governor, the Financial Markets Department executing investments, and Finance plus Payments and Settlement functions supporting oversight and operations.3
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

  1. Website (bankofbotswana.bw)Parent organization overview, Pool purpose, Capital pool, Investment approach, Governance · checked Jul 25, 2026
  2. Financial statements (bankofbotswana.bw)Estimated AUM · checked Jul 25, 2026
  3. Fact sheet (bankofbotswana.bw)Investment model, Investment team · checked Aug 6, 2026
  4. Website (ifswf.org)Asset allocation · checked Jul 25, 2026
  5. Website (bankofbotswana.bw)Investment office page · checked Aug 6, 2026

Reports and filings

Profile and job sources