May 16 2010 |
more articles from
|
Assets of global SWFs likely to grow
The world's sovereign wealth funds (SWFs) believe the present market conditions are discouraging for investment but expect their assets to grow despite the impact of the fiscal crisis.The International Forum of Sovereign Wealth Funds (IFSWF), which was set up by the Santiago-based International Working Group of Sovereign Wealth Funds (IWG) in Kuwait last year, discussed the market situation at its second meeting in Sydney last week, the group said in a statement yesterday.
Its 23 members also reviewed capital flow with representatives of recipient countries and progress on the implementation of their famous Santiago Principles, which call for greater transparency and stronger management. "The forum felt that the current conditions in the financial markets and the uncertainties relating to sovereign credit risk assessment, especially in the euro zone, were presenting a less certain investment environment," it said.
The statement said IFSWF members, including the Abu Dhabi Investment Authority ( ADIA ) and funds from Kuwait and Qatar, pledged to continue playing an "important role in keeping open the flow of investment when it could otherwise be falling in many recipient countries".
ADIA and several other SWFs issued the Santiago declaration following furore in the West over their investment activities, which are concentrated in the United States and other Western industrial powers.
SWFs said they play a major role in stabilising the global financial system
By Nadim Kawach
© Emirates Business 24/7 2010
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment