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Definition of 'Pula Fund'
The Pula Fund is a sovereign wealth fund established in 1994 by the Republic of Botswana, an African nation with a rapidly growing economy and large diamond and mineral reserves. It was established with the objective of preserving part of the income from diamond exports for Botswana's future generations.
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Investopedia explains 'Pula Fund'
The Pula Fund is managed as a long-term investment portfolio by the Bank of Botswana, and is funded by foreign exchange reserves that exceed the nation's medium-term requirements. It invests in public equity and fixed income instruments in industrialized economies. The Pula Fund had assets in excess of $6 billion as of February 2010.
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