EU plan for sovereign fund code under fire

Author (Person)
Series Title
Series Details 9.4.08
Publication Date 09/04/2008
Content Type

The European Union’s proposals for a voluntary code of conduct for sovereign wealth funds came under attack on the 9 April 2008 from the Kuwaiti Investment Authority, one of the world’s largest such funds. In a speech to a trade conference in Luxembourg, Bader al-Sa’ad, the KIA managing director, demanded that countries seeking to design codes of conduct for the wealth funds should apply the same principles to hedge funds, private equity funds, pension funds and other non-listed pools of capital.

Related Links
Website: Kuwait Investment Authority http://www.kia.gov.kw/kia
http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/313&format=HTML&aged=0&language=EN&guiLanguage=en http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/313&format=HTML&aged=0&language=EN&guiLanguage=en
BBC News, 27.2.08: EU in sovereign wealth fund call http://news.bbc.co.uk/1/hi/business/7267506.stm
ESO: Background information http://www.europeansources.info/record/wealth-fund-code-of-conduct-proposed/

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