By Arif Sharif
Oct. 12 (Bloomberg) -- Abu Dhabi Investment Authority, the world's biggest sovereign wealth fund, said it supports a code of 24 voluntary principles for sovereign wealth funds presented to a committee of the International Monetary Fund yesterday.
The International Working Group of Sovereign Wealth Funds, co-chaired by ADIA Director Hamad Al Hurr Al-Suwaidi, is also exploring the creation of Standing Group of Sovereign Wealth Funds, ADIA said in an e-mailed statement today.
ADIA, which according to the Economist Intelligence Unit has assets of about $875 billion, set up an inter-departmental committee to oversee its compliance with the Generally Agreed Principles and Practices for the wealth funds, the statement said.
To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net
Sunday, October 12, 2008
Abu Dhabi Investment Authority Supports Sovereign Funds' Code
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