Egypt’s SWF joins international wealth fund body

Egypt Wealth Fund joins international industry body: Egypt’s sovereign wealth fund has joined the International Forum of Sovereign Wealth Funds (IFSWF) as an associate member, the IFSWF said in a statement. Associate membership is granted for three years and will require the Egyptian fund to implement the Santiago Principles, which consist of 24 principles that promote transparency, good governance, accountability and prudent investment practices for SWFs. The membership sends “a positive message” to potential investment partners and can become a full membership later,Planning Ministry Hala El Said said in a statement.