Episode 114 explores a surprising gap in wealth-building: the middle class has virtually no access to sovereign wealth fund returns. Lucas and Luna break down how funds like Norway's Government Pension Fund Global, Abu Dhabi's ADIA, and Singapore's Temasek generate outsized returns through patient capital, illiquid assets, and long holding periods. They explain the structural barriers — minimum investments, accreditation rules, and regulatory exemptions — that keep these strategies out of reach for ordinary investors. The episode zooms in on Norway's fund, which returned 6.1% annually over the past decade while holding nearly 70% equities and 30% private real estate and infrastructure. A tangible takeaway: the same asset allocation is available via ETFs and interval funds, but with higher costs and less tax efficiency. The hosts tie the conversation to listener support, noting that ad-free economics journalism depends on the audience.

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