1MDB casts pall over looming Asian SWFs
The scandal at Malaysia's 1MDB did not help the reputation of sovereign wealth funds. With two further Asian SWFs in the works, the political risks that it highlighted are set to resurface.
With resentment against established political and business interests on the rise, sovereign wealth funds (SWFs) continue to face criticism from some quarters for their lack of transparency and, in extreme cases, outright corruption. Against that backdrop at least two new SWFs are being planned in Asia, in the Philippines and in Indonesia.
The recent experience in Malaysia with 1MDB showed that having a large pool of wealth at the disposal of government officials and politicians wa…
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