Register  
Future Fund behind Azerbaijan on transparency
Friday, 5 March 2010 12:10pm

The sovereign wealth fund transparency index has found that Australia's $66 billion Future Fund is slightly less transparent than SWFs of the United Arab Emirates (UAE), New Zealand and Azerbaijan.

The SWF Institute has developed the Linaburg-Maduell Transparency Index, which is based on 10 principles that show how transparent SWFs are to the public.

Each SWF is awarded one point for each principle, which ranks them based on disclosures such as their providing up-to-date independently audited annual reports, investment strategy and portfolio updates.

The institute has modeled the index' principles on the Norway's Government Pension Fund-Global, which it said is one of the best examples of transparency in the world.

The Future Fund scored nine out of a possible 10 along with South Korea's KIC, New Mexico's SWF and Wyoming's fund in the fourth quarter of 2009.

A minimum rating of eight out of 10 is required to claim adequate transparency, according to the institute.

The institute did not disclose which principle the Future Fund did not meet. The fund's website details its investment strategy, investment managers and provides regular portfolio updates.

A Future Fund spokesperson said the Fund has played a significant role in developing the Santiago Principles, which established generally accepted principles and practices for Sovereign Wealth Fund governance, accountability and investment practices.

In addition, the fund continues to develop its approach to disclosure and recently confirmed that it will shortly be providing a summary of how it exercises its proxy voting rights in Australia.

Topping the index and scoring the highest scores possible were Chile's SWF, UAE-based Mubadala, Singapore's Temasek, Norway's Government Pension Fund-Global and the New Zealand Superannuation Fund

SWFs with scores less than two out of 10 were based in Oman, Nigeria, Kiribati, Iran, Brunei and Algeria.

Blogs
Follow the industry experts.
Christopher Page
Christopher Page
Managing Director

The age of SMSFs
The growth of the number and volume of self-managed super funds (SMSFs) seems to have no end. As the sector reaches the one million ...read more
 
Benjamin Ong
Benjamin Ong
Chief Economist

Reflation, rotation and the taper
'Tis being my final type (drivel, to some gentle readers) for the year, we'll take a look back at the 2013 that was to seek the lessons ... read more
 
Alex Dunnin
Alex Dunnin
Director of Research & Editorial Services

BRUMBIE: Walk quietly but carry a big stick
It's now a few weeks since Financial System Inquiry (FSI) chief David Murray handed down his interim report and already sectional advance ... read more
News Search   
VideoBrought to you by
AMP Capital Australian Equity Concentrated Fund
We invite you to watch our latest video program on FSiTV featuring AMP Capital's Co-Head of Australian Fundamental Equities Gian Pandit, as interviewed by Mark Smith, deputy editor of Financial Standard. In ... Watch video
MAX 2014 Highlights
The annual MAX forum places all the movers and shakers in financial services when it comes to sales, marketing and distribution. Find out the recipe of those who are taking the lead. Watch the video n ... Watch video
Platinum Asset Management
Reflecting on more than three decades in the industry, Platinum Asset Management managing director Kerr Neilson says one of the changes in the industry has the been the erosion of the information advantage ... Watch video
Who wants to be a RockStar 2014 Highlights
Count's Chris Mekhail was crowned 2014 Rockstar this year for his soaring rendition of Swedish House Mafia hit 'Don't You Worry Child' at the annual Who wants to be a RockStar event organised by the Finance ... Watch video
Get it
Daily
FREE to your inbox, get the Financial Standard Daily Email.
Get the Free
iPad app
Download the Financial Standard iPad app for FREE
Industry
Events
AUG
27
SEP
10
Risk and Liquidity Forum
11
Liability Driven Investing Forum
OCT
07
Major Market Players Symposium
15
Investment Performance Measurement, Attribution & Risk Management
20
Family Office Forum
News
Bites
Advertisement

$245 (inc GST) for 1 year
 
 
Copyright © 1992-2014 Rainmaker Group
All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
Link to something 0wXT7f9H