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.
Further information: press conference transcript | IWG press release | IWG members | news report in The Times | news report in the Wall Street Journal |
Update (22 October): the Principles are available here.
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