More on the global worry over SWFs

We mentioned previously that there is a bill in the California assembly that would effectively prevent California pensions from investing in private equity funds that have sovereign wealth fund investors. That would have some major consequences were it to pass. However, there also is a backlash brewing in Washington--and now Europe. Most recently the EU president stoked some controversy in the Financial Times by suggesting that Europe needs to distinguish between funds like the Norway fund and those of other countries, presumably from the Middle East and Asia. You get the feeling that this issue isn't going away. It would help if SWF agreed to some transparency standards.    

For more:
- here's the Financial Times article
- EU seeks code for SWFs. Article

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