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Sovereign wealth funds defend investment role
Associated Press
2011-05-12 07:29 PM
Leaders of a group that represents the sovereign wealth funds of China, Australia and other governments have defended their role as investors and a force for global stability.

At the end of a two-day meeting, leaders of the International Forum of Sovereign Wealth Funds said Thursday that such funds should be allowed into countries so long as they disclose their investment goals and act as commercial entities.

Critics including some American legislators have questioned the motives of sovereign wealth funds and whether they invest for political reasons, such as to gain access to sensitive technology.

A Chinese official said sovereign wealth funds also help to promote stability because they make long-term investments

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