17.11.2014 - National Pensions Reserve Fund a winner in transparency index ratings
In case you missed it, this week saw the release of the long-awaited third-quarter Linaburg-Maduell Transparency Index Ratings, aka the Oscars of the sovereign wealth universe. The main “takeaway” from the publication is that we, the State, did well and everybody likes it when we do well in internationally graded tests. In fact, we got a clean 10 out of 10. The prize-winner in this instance was the National Pensions Reserve Fund, the erstwhile guardian of our future pensions before it was raided under the bailout. These days, the fund is all about strategic investments that might improve the domestic economy and make a profit at the same time. It’s an unusual approach for a sovereign fund – one that has been described by the structure itself as a quest for a “double bottom line”. The jury is still out on the merits of same, but that’s an argument for another day........................................Full Article: Source