International Forum of Sovereign Wealth Funds affirms commitment to promoting good governance, accountability and transparency
Milan Communique
Speaking at the International Forum of Sovereign Wealth Funds (IFSWF) in Milan, incoming Chair Adrian Orr, CEO of the New Zealand Superannuation Fund, outlined his commitment to promoting the Santiago Principles, a set of 24 principles of practical guidance promoting good governance, accountability and transparency.
Mr. Adrian Orr, IFSWF Chair and Chief Executive Officer of the New Zealand Superannuation Fund, said:
“We are all managers of others peoples’ money – a fiendishly difficult task. Whatever the purpose, we are each charged with succeeding over the long-term.
Sovereign Wealth Funds must continue to embrace the principles of good governance, accountability and transparency to earn respect for their operating and investment integrity.
I believe the IFSWF can greatly assist the provision of superior risk-adjusted returns to our owners, and in doing so provide increased stability to global financial markets.”
Meeting at its 7th annual meeting, alongside the appointment of Adrian Orr as Chair, the IFSWF announced changes to its Board:
- The IFSWF extended its gratitude to Mr. Jin Liqun, the outgoing Honorary Chair and the President-designate of the Asian Infrastructure Investment Bank, and Mr. Bader al Saad, the outgoing Chair of IFSWF and Managing Director of the Kuwait Investment Authority
- The IFSWF announced the appointment of its new Deputy Chair, Mr. Majed Al Romaithi, Chairman of the Management Committee at the Abu Dhabi Investment Authority
- The IFSWF announced the appointment of three new Board members:
- Mr. Li Keping, Vice Chairman, President and Chief Investment Officer, China Investment Corporation
- Ms. Deanna Ong, Managing Director, GIC Private Limited
- H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, CEO of Qatar Investment Authority
- The IFSWF announced that the 9th Annual Meeting in 2017 will be hosted by JSC Samruk-Kazyna in Kazakhstan. The event in 2016 will be hosted by the New Zealand Superannuation Fund in Auckland
The Board will be responsible for driving forward the IFSWF’s strategic plan, building on its success to date, and delivering its ambition of becoming an even more global membership organisation by 2018...