Friday 5 September 2008

Sovereign wealth funds: generally accepted principles and practices

Earlier this month the International Working Group of Sovereign Wealth Funds (IWG) reached preliminary agreement on a draft set of Generally Accepted Principles and Practices (GAPP). Mr. Hamad al Suwaidi, Co-Chairman of the IWG, described the GAPP as providing "a voluntary framework that guides the appropriate governance and accountability arrangements as well as the conduct of appropriate investment practices by sovereign wealth funds". The GAPP will be presented to the International Monetary Fund's International Monetary and Financial Committee in October and are likely to be published thereafter.


Update (22 October): the Principles are available here

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