Since 2007, sovereign wealth funds have been recognised as important participants in the international monetary and financial system.
Today, it is hard to avoid the headlines their activities attract. Sovereign wealth funds’ investments are both beneficial and critical to international markets.
For that purpose, it is important to continue to demonstrate – to home and recipient countries, and the international financial markets – that sovereign wealth funds have robust and independent governance and their investments are made on an economic and financial basis.
The development of the Generally Accepted Principles and Practices (GAPP), known as the Santiago Principles®, and the International Forum of Sovereign Wealth Funds (IFSWF) in 2008 and 2009 played a key role in shaping the perception of these institutions by providing support for the institutional framework, governance, and investment operations.
The IFSWF believes that the occasion of the tenth anniversary of the promulgation of the Santiago Principles® is an opportune moment to reflect on the genesis of the Principles and what they have come to mean to its expanding and increasingly diverse membership in an intellectually rigorous and balanced manner.