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SINGAPORE: Singapore's Temasek Holdings has been given top marks in a report on transparency among sovereign wealth funds.
The California-based Sovereign Wealth Fund Institute rated Temasek a perfect 10 in its Transparency Index for the fourth quarter of 2008.
Four other funds from Ireland, the United States, Norway and New Zealand also scored maximum points.
They are the National Pensions Reserve Fund, Alaska Permanent Fund, Government Pension Fund and New Zealand Superannuation Fund.
On the other hand, the Government of Singapore Investment Corporation (GIC) was given a rating of 6.
The Transparency Index is based on 10 principles. Among these, points are given to each sovereign fund for managing its own website, providing up-to-date independently audited annual reports, investment guidelines and total portfolio market value.
Currently, the institute recommends a minimum rating of 8 for a fund to claim adequate transparency.
- CNA/so
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