(Reuters) - Clay Lowery, the Treasury's acting under secretary for
international affairs, said he believes such funds can provide
diversification and higher returns to foreign governments, but
their growth poses risks to financial market stability.
"Sovereign wealth funds raise issues of the appropriate
institutional arrangements, governance, operational and risk
management, accountability, and -- critically -- transparency
of the funds rules, operations and asset managment guidelines,"
Lowery said in a speech delivered to a San Francisco Federal
Reserve conference on the 1997 Asian financial crisis.
Read more at Reuters.com Bonds News
international affairs, said he believes such funds can provide
diversification and higher returns to foreign governments, but
their growth poses risks to financial market stability.
"Sovereign wealth funds raise issues of the appropriate
institutional arrangements, governance, operational and risk
management, accountability, and -- critically -- transparency
of the funds rules, operations and asset managment guidelines,"
Lowery said in a speech delivered to a San Francisco Federal
Reserve conference on the 1997 Asian financial crisis.
Read more at Reuters.com Bonds News
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