18.01.2016 - Kazakh wealth fund fires senior executive
Sovereign wealth funds are notoriously secretive. Contact 10 for a story and you are guaranteed that most, if not all, will decline to comment. Even consultants and researchers who specialise in state-owned investment vehicles are often reluctant to speak on the record about specific sovereign funds, which are set up to save money for a rainy day or to ensure stable social and economic growth of a country. This veil of secrecy is one of the reasons Berik Otemurat’s recent actions are exceptional. This month, while he was still a senior official at oil-rich Kazakhstan’s central bank, the 35-year-old warned that the country’s $64.2bn national fund could fold...............................................Full Article: Source
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