SOVEREIGN FUNDS SIGN UP TO CODE OF CONDUCT

The world's main sovereign wealth funds agreed to a voluntary code of conduct yesterday and to consider establishing a standing committee to represent them in international policy debates.

The decisions were made at the conclusion of a two-day summit in Santiago, Chile, and followed months of discussions supported by the International Monetary Fund.

The move was made amid heightened attention to the growing role of state-owned funds in the global financial system.

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