| Part 1 covered the origins of the Sovereign Wealth Fund GAPP (Generally Accepted Principles and Practice, also known as “the Santiago Principles”) which was issued in 2009. The opening blog on this theme looked at the pressures on SWFs to present themselves as pure investment vehicles driven by the usual risk returns investment criteria. However, part 1 ended by reaffirming the fact that SWFs are state-owned entities with a mission that can extend well beyond simply generating decent returns.
The GAPP itself recognizes this, though it does its best to downplay “extra-curricular” activities...............................................Full Article: Source
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