This paper examines the way public assets should be managed to preserve the
national wealth. The research idea arises from experiences of some developed
countries that manage their public assets through public investment funds, i.e.
sovereign wealth funds. Drawing on the knowledge that public authorities in
developed countries follow investment practice the same way that private
investors do and that public assets are “manageable”, the paper deals with
public property preservation and usage, and value enhancement in transition
countries. We analyse the preconditions for efficient public asset management
and ask whether the employment of public assets under the supervision of
professional management can ensure better public services and welfare to the
citizens of transition countries, once privatisation processes of public assets are
close to being finalised.