Singapore - Representatives of sovereign wealth funds (SWFs) met in Singapore on Wednesday in a bid to make further progress on voluntary guidelines that would allay European and US fears of political interference.
A set of generally accepted principles and practices are under deliberation with the aim of promoting "a clearer understanding of the institutional framework, governance, and investment operations of SWFs that would support the maintenance of an open and stable investment climate," a statement by the SWF's International Working Group
(IWG) said.
The second working session of the 23-member IWG, which was formed in May, is seeking to formulate a code of ethics that could be formalized by October.