SWF Radar

Thomson Reuters reports that, “Global sovereign wealth funds said on Tuesday they had reached a preliminary agreement on a set of voluntary principles to guide their investment practices and to calm fears about their motives. The International Working Group of Sovereign Wealth Funds, or IWG, which consists of 26 of the wealthy state-owned funds, said it would present the guidelines to the International Monetary Fund’s policy-setting committee on October 11.”

The report adds that, “David Murray, board chairman of Australia’s Future Fund, said the wealth funds also agreed to consider creating a standing group of wealth funds, which would facilitate further discussion among the funds, and recipient countries, and the private sector.”

As for the “Generally Accepted Principles and Practices (GAPP)” themselves (not to be confused with GAAP), “The guidelines include a set of 24 principles that cover legal, institutional, governance, investment policies and risk management structures of the funds, Murray said.”

Here’s the FT’s take.

Here’s the WSJ’s take.

And here’s the SCMP’s take.