19.12.2008 - SWFs: New voluntary principles a step in the right direction
From Heritage: In October 2008, the International Working Group of Sovereign Wealth Funds (IWG) released a set of generally accepted principles and practices (GAPP) for the conduct, governance, and accountability of sovereign wealth funds (SWF). First conceived in the 1950s by foreign governments as a means to invest surplus foreign exchange earnings in the U.S. and markets abroad, SWFs have been the subject of intense media and government scrutiny after a flurry of investment deals in 2006 and 2007 caught the public's eye..... Full Article: Source