The International Forum of Sovereign Wealth Funds (IFSWF) has adopted a three-year strategic plan focused on promoting the use of the Santiago Principles to support the free flow of long-term, global capital.
The strategic plan, agreed by IFSWF membership at their sixth annual meeting in Doha, Qatar, on 19- 20 November 2014, identifies the Santiago Principles and IFSWF’s diverse, and growing, membership as IFSWF’s key strengths. The plan, agreed by 28 of the World’s leading Sovereign Wealth Funds, seeks to leverage those strengths to work toward becoming an important global reference on the governance, investment and operational practices of IFSWF-member Sovereign Wealth Funds. Additionally, through championing long-term investment based on financial and economic grounds, the funds will contribute to maintaining a stable global financial system.
Other key outcomes from the meeting included:
- IFSWF members agreed to publish a series of 15 case studies of how members are implementing the Santiago Principles
- IFSWF members signed “The Doha Agreement” affirming their membership under the IFSWF’s new legal structure and welcomed five new members
- The IFSWF Board welcomed Mr. Michael J. Burns from the Alaska Permanent Fund Corporation as a new Board member, replacing Rod Matheson.
- Discussion of SWFs domestic and international roles and the presentation of several examples of individual members’ approaches to dynamic asset allocation, non-marketcapitalisation approaches to index investing and different co-investment approaches
The three-year strategic plan encompasses knowledge-sharing between IFSWF members; cooperating on issues of mutual interest; on-going training and development for new members; and the potential for combined efforts to identify and implement research.
The case studies were published with the overall intention of adding to the global body of knowledge about the investment and operational practices of IFSWF sovereign funds. Within that goal there were several aspirations: to provide guidance for countries establishing, or considering, a Sovereign Wealth Fund; becoming an important reference for existing sovereign funds; and to support the research efforts of those interested in the activities of sovereign funds. The document can be accessed at www.ifswf.org