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Article: Sovereign wealth funds defy peconceptions.
- Article from:
- Investment Adviser
- Article date:
- August 25, 2008
CopyrightCOPYRIGHT 2008 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Edwin M. Truman is Senior fellow at the Peterson Institute for International Economics
To many, SWFs display a lack of transparency, but it is accountability that is the real issue
The media and many analysts would have one believe that sovereign wealth funds are entities established by non-Western, often non-democratic governments in pursuit of economic and political objectives that are orthogonal to those of traditional, market-oriented industrial countries. That may be a reasonable characterisation of a few funds but not of the vast majority. Industrial countries hold more than 40 per cent of SWF international assets and about two-thirds of ...