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The size and composition of a Sovereign Wealth Fund (SWF) can vary significantly between countries based on economic circumstances, leadership policies, and state priorities. The vast majority of Brazil's SWFs were established between 2017 and 2023, many of which were funded through the surplus revenue generated from state-run oil and gas activities. SWFs are initially funded by the local government with excess profit generated from activities such as state-owned enterprises, reserves, or exports. Once this initial cash injection is provided, it is hoped that SWFs will generate further profits through asset management. Prior to the depletion of assets in 2010, the FSB managed assets worth ** billion U.S. dollars. SWFs can vary in scale, generating earnings to fund national initiatives such as the FS located in the capital, Brasilia. SWFs may also be created to fund state or even city-based initiatives.