The International Forum of Sovereign Wealth Funds (IFSWF) is a global network of sovereign wealth funds (SWFs) established in 2009 to enhance collaboration, promote a deeper understanding of SWF activity and raise the industry standard for best practice and governance.
Central to the IFSWF are the Santiago Principles, which all members voluntarily endorse, bringing to bear transparency, accountability and prudent investment practices.
The Santiago Principles (the “Principles”) consists of 24 generally accepted principles and practices voluntarily adopted by IFSWF members. The Principles endorse transparency, good governance, accountability and prudent investment practices whilst encouraging a more open dialogue and deeper understanding of SWF activities.
Drafted by the International Working Group of SWFs and welcomed by the IMF’s International Monetary Financial Committee in 2008, the objectives of the Principles are:
The Santiago Principles demonstrate that SWFs invest as economically and financially oriented entities in both their domestic markets and globally. By doing so, SWFs contribute to the stability of the global financial system, reduce protectionist pressures and help maintain an open and stable investment climate. The knowledge sharing activities of the IFSWF also serve as a tool for continuous improvement and innovation for all our members.