MacroScope

SWFs in Baku: Tables turning?

October 10, 2009

Sovereign wealth funds may have turned the tables on the rest of the world.

Wrapping up their inaugural meeting in the capital of Azerbaijan, 20 leading sovereign wealth funds urged host countries to make their investment regimes more transparent and discriminatory and keep investment borders and flows as open as possible. (For the story click here).

This comes after years of host countries — the West — asking them to open their books.

Much of the two-day meeting which ended on Friday was held behind closed doors, but the organisers — Azerbaijan’s state oil fund — let media in with cameras and video recorders to film the final 5 minutes of the meeting.

Watch what David Murray, chair of the International Forum of Sovereign Wealth Funds and also chairman of Australia’s Future Fund said at the end of the meeting (with some holiday advise) and at the start of the news conference.

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