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"The International Working Group of Sovereign Wealth Funds (IWG) was established on April 30, 2008, to identify and draft a set of principles that properly reflect their investment practices and objectives. As part of this initiative, certain IWG members completed a short survey of their current institutional and operational practices. The SWF survey, which was conducted by staff of the International Monetary Fund (IMF), solicited responses on a voluntary and confidential basis from members of the IWG.2 The IWG used the responses as background information and input in the preparation of the Generally Accepted Principles and Practices for SWFs (GAPP). The IWG agreed in its meeting in Santiago, Chile, held on September 1–2, 2008, to publish the information as a step toward improving the understanding of their current practices. A summary of the survey responses is provided below under three broad headings: (i) Legal Framework, Objectives and Macroeconomic Linkages; (ii) Institutional Framework and Governance Structure; and (iii) Investment Policies and Risk Management Frameworks. It is based on responses received by end-July 2008."