London’s campaign to enhance its position as a global financial centre could soon receive a boost from a group of large sovereign wealth funds.
The International Forum of Sovereign Wealth Funds, an association of 24 funds, headed by China, Russia and the Gulf states, is planning to establish a permanent secretariat and many members favour London.
The forum, an informal grouping with combined assets of about $4tn, is planning to move out of its premises inside the International Monetary Fund’s headquarters in Washington.
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