Abu Dhabi, US Treasury Reach Agreement on Sovereign Funds Principles

Officials from the US Treasury, Abu Dhabi and Singapore agreed to a set of guiding principles for sovereign wealth funds (SWF), reinforcing Abu Dhabi’s earlier statements that SWF investment decisions should be based solely on commercial grounds. US Treasury Secretary Henry Paulson said that the UAE has “long–established, well–respected funds” and that the country showed “real leadership” by collaborating with Treasury officials.