Working Group Announces Creation of International Forum of Sovereign Wealth Funds

Press Release No. 09/01
April 6, 2009

The International Working Group of Sovereign Wealth Funds (IWG) announced today in Kuwait City the establishment of the International Forum of Sovereign Wealth Funds (Forum). The Kuwait Declaration, issued at the end of a two-day meeting hosted by the Kuwait Investment Authority and the State of Kuwait, states that the Forum, a voluntary group of SWFs, will meet at least once a year to exchange views on issues of common interest and facilitate an understanding of the Generally Accepted Principles and Practices—“Santiago Principles”—and SWFs’ activities.

Mr. David Murray, Chairman of Australia’s Future Fund Board of Guardians, was elected by the IWG members to chair the Forum. Mr. Jin Liqun, Chairman of the Board of Supervisors, China Investment Corporation, and Mr. Bader Mohammad Al-Sa’ad, Managing Director, Kuwait Investment Authority, were elected to be deputy chairs of the Forum.

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