President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has issued a federal law establishing the Emirates Investment Authority to manage assets of the federal government. The law stipulates that the newly established entity will be the sole authority responsible for investing surplus funds of the federal government. It will also take part in drawing up the policy for such investments to generate viable returns. According to the law, the investment returns generated by the federal wealth fund will be utilized for supporting the federal budget.