SWF Radar

Reuters writes that, “Global economic instability has created huge investment opportunities for China Investment Corp (CIC), but the sovereign wealth fund will be careful not to destabilize countries where it operates, its head [Lou Jiwei] said on Friday.”

The article adds that, “He said he supported an initiative by the International Monetary Fund to draw up guidelines for the best practice of sovereign wealth funds, but he would not accept outside pressure for mandatory transparency rules. … Lou said best practice was subjective because there were five different categories of sovereign wealth funds, each of which operated along different lines.”

It quotes Lou as saying that the CIC is not planning on leading the way on SWF best practice: “We are not going to be the leader. We are only half a year old. There are older brothers who are 30 years old. Let them be the leaders.”