APD | Mongolia becomes associate member of Int’l Forum of Sovereign Wealth Funds

By APD writer Alice

The Future Heritage Fund of Mongolia has become one of the four new associate members of the International Forum of Sovereign Wealth Funds (IFSWF), together with the Egypt Fund, the National Infrastructure Investment Fund of India and the National Investment Fund of Cyprus.

On September 12, the 11th annual meeting of the IFSWF was hosted in Juneau, Alaska by Alaska Permanent Fund Corporation (APFC). The meeting brought together members and financial leaders to discuss the key global issues affecting investors.

The IFSWF has also welcomed two new full members – Fonds Souverain d'Investissements Stratégiques (FONSIS) of Senegal and Bpifrance since its last meeting held in Marrakech, Morocco.

The Future Heritage Fund of Mongolia was established in 2015 with the intent of collecting a portion of mineral revenue for future generations’ use and the main sources of the FHF's financing include 65 percent of the royalty payments and the dividends to the state owned shares of legal entities with state ownership participation or state owned enterprises which possess mining licenses for mineral deposits

The IFSWF is a global network of sovereign wealth funds (SWFs) established in 2009 to enhance collaboration and dialogue between members, to promote a deeper understanding of SWF activity and to raise the standard for SWF best practice and governance.

(ASIA PACIFIC DAILY)