Russian confirms list for Wealth Funds investment

MOSCOW, Feb 21 (Reuters) - Russia confirmed on Thursday the list of securities in which its two main sovereign wealth funds holding a combined $157 billion can invest, including U.S. home finance companies Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research).

The 15-company list mirrors the list, which was unveiled a few years ago, when Russian set up a Stabilisation Fund and allowed it to invest in foreign securities, including quasi-sovereign, that meet AAA rating requirements.

This year the Stabilisation Fund was split into the Reserve Fund of $125.4 billion and the National Welfare Fund of $32 billion, both made up of oil windfalls from the past 9 years.

The Finance Ministry and the Central bank has never disclosed the breakdown between investment in government and quasi-sovereign securities.

But it caps investment in quasi-sovereign papers at no more than 30 percent of the overall investment.

Following is a list of securities as disclosed by the Finance Ministry:

- The United Kingdom's Network Rail MTN Finance Plc

- Germany's Kreditanstalt fuer Wiederaufbau Bankengruppe

- Spain's Instituto de Credito Oficial (ICO)