Australia to screen sovereign wealth funds

Australia has issued a set of screening criteria to be used by the country's regulators in determining whether to allow investment made by sovereign wealth funds.

The list of the six principles was released on Sunday by Australia's treasurer, Wayne Swan, a few days before the Foreign Investment Review Board is due to consider an A$ 6.5 billion (US$15 billion) investment in Rio Tinto by Chinalco, a Chinese government-owned company, in partnership with the United States aluminium giant, Alcoa.