EU plan for sovereign fund code under fire
By Tony Barber in Brussels
Published: April 8 2008 23:23 | Last updated: April 8 2008 23:23
The European Union’s proposals for a voluntary code of conduct for sovereign wealth funds will come under attack on Wednesday from the Kuwaiti Investment Authority, one of the world’s largest such funds.
Bader al-Sa’ad, the KIA managing director, will demand that countries seeking to design codes of conduct for the wealth funds should apply the same principles to hedge funds, private equity funds, pension funds and other non-listed pools of capital.
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