Guest post: SWFs have progressed on the road from Santiago but governance is still an issue – beyondbrics - Blogs - FT.com

Guest post: SWFs have progressed on the road from Santiago but governance is still an issue – beyondbrics - Blogs - FT.com:



"By Eric Parrado of the Banking and Financial Institutions Regulation Authority of Chile



For centuries, pilgrims have made the journey to Santiago de Compostela to seek redemption. When, in 2008, sovereign wealth funds met in another Santiago, Santiago de Chile, it was not to seek forgiveness – for they had committed no sins. They came together to adopt the Santiago Principles, covering issues of importance for SWFs including the setting of clear objectives, better coordination with macroeconomic policies, good corporate governance and transparent investment and risk management frameworks.

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