From Forbes: The International Working Group on Sovereign Wealth Funds (IWG) released the Santiago Principles–also known as the Generally Accepted Principles and Practices (GAPP)–on Oct. 11. The release of these principles is an important step toward resolving any remaining distrust or confusion surrounding sovereign wealth funds (SWF).
The IWG was set up during a meeting of SWFs at the IMF in April. The meeting’s purpose was to create a forum that was the first “port of call” for any national SWF concerns. The IWG’s mandate was to identify a framework of generally accepted principles and practices that reflect appropriate governance, accountability and investment practices for all SWFs. Such a task was extremely difficult. ….. Full Article: Source