Reserves that are above the adequacy ratio can be used in other government funds invested in more risky assets such as sovereign wealth funds or as insurance to time of crisis, such as stabilization funds. If those were included, Norway, Singapore and Persian Gulf States would rank higher on these lists, and United Arab Emirates' estimated $627 billion Abu Dhabi Investment Authority would be second after China. Apart from high foreign exchange reserves, Singapore also has significant government and sovereign wealth funds including Temasek Holdings (last valued at US$375 billion) and GIC Private Limited (last valued at US$440 billion).