7. The owner should set the objectives of the SWF, appoint the members of its governing body(ies) in accordance with clearly defined procedures, and exercise oversight over the SWF’s operations.
The mandate of RDIF as the Fund manager is to attract foreign investments into the Russian economy by inviting foreign investors to co-invest alongside RDIF.
RDIF's equity investment in any given project may not exceed 50% of the equity investment funded by one or more foreign investors in the same project.
The governing bodies of RDIF are the CEO, Investment Committee, Executive Board, Supervisory Board, all duly appointed in compliance with the Charter of RDIF and the Federal Law on Russian Direct Investment Fund.
Most information on governing bodies is presented on the RDIF website.
The activities of RDIF are subject to audit by the Audit Chamber of Russia, which is a state authority overseeing operations of organizations administering federal budget funds, the Central Bank of the Russian Federation, which is a supervisory authority in the financial markets, by the Audit Commission of RDIF, by the special depository and other authorised bodies.