21.10.2008 - IWG rebuilds trust in SWFs
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