The U.S. welcomes sovereign wealth fund investment (The funds may grow to manage $12.5 trillion within five yearsand ) looks forward to continuing to work with Singapore and UAE (have long-established, well-respected funds) and others to support the initiatives under way at the IMF and OECD.
all investments must be based only on commercial grounds, and the funds should increase the disclosure of information and make sure they have strong risk management and governance controls. countries that receive investment shouldn't set up protectionist barriers and have consistent, non-discriminatory investment rules.
SWF investment decisions should be based solely on commercial grounds, rather than to advance, directly or indirectly, the geopolitical goals of the controlling government.
The Abu Dhabi Investment Authority looks forward to supporting and implementing these principles.
China and Russia have set up funds.
The funds have invested at least $59 billion in the past year to shore up the balance sheets of such Wall Street banks as Citigroup Inc. and Merrill Lynch & Co.
read more at source: http://www.bloomberg.com/apps/news?pid=20601068&sid=a2Bs51SaAkFE&refer=home
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