The National Development and Social Fund (NDSF) of Malta originally was established to manage and oversee receipts from the country’s Citizenship by Investment programme named the Individual Investor Programme (IIP). According to the fund’s board of governors, over the years since the inception of the IIP in 2014 up until 31st August 2018, the programme has raised an impressive total of €432,014,517 for the NDSF. Thus, with the presenting reported figures makes the NDSF the world’s 43rd largest sovereign wealth fund by assets under management (AUM).
The fund receives an average of 70% of all applicant contributions that make up part of the Maltese citizenship by investment programme. The fund not only provides future charitable commitments that have reserved €56 million, it has admittedly retained the chief part of nearly half a billion euros in a separate account with the Central Bank of Malta.
Moreover, there has been a profound increase in both in the public and private sectors when making higher yield investments. It was last month that the fund bought a 49% stake in Lombard Bank. According to the Times of Malta, the programme has acquired more than €130 million in publicly traded securities and treasury bonds.
At current exchange rates, the equivalent to the NDSF’s recorded balance is exactly half a billion US dollars!