IFSWF Research Engagement Policy · recommend the final draft to the Board before public presentation or publication. All research must acknowledge IFSWF contributions. Wherever a

CONFIDENTIAL FOR THE USE OF IFSWF MEMBERS ONLY

Version Date Changes Approved by: Status 1 14/12-2015 Board Approved

IFSWF Board Policy Note I -‐ 2016

Research Engagement Policy Approved by the Board on 14 December 2015

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I. POLICY PURPOSE

This policy establishes a research framework for the IFSWF in response to a request from the Board of the 4 November 2015 meeting. This framework is established around four main pillars and suggests eight actionable steps that the Board agrees in order to put in place this framework. The actionable steps are found in Section IX.

II. POLICY OBJECTIVE

The policy allows the Board to oversee the research engagements of the Forum and sets out the acceptable options for collaborative research between members, international institutions, and academia and private sector collaborators.

III. IFSWF PURPOSE AND STRATEGIC OBJECTIVE

IFSWF exists in the service of the Santiago Principles. Members participate in the Forum to benefit from knowledge exchange, the building of relationships with peers, and to consider good investment practices appropriate for SWFs. To these ends, the 3-year Strategic Plan lists six strategic activities that the Forum will execute: 1. Promoting the Santiago Principles by publishing case studies and sharing knowledge

on, and encouraging, operational excellence. 2. Exchanging views on topics of common interest by organizing successful annual

meetings and, where there is sufficient demand, specific events. 3. Engaging and liaising with governments and international institutions. 4. Developing online platforms for information exchange and collaborative research. 5. Encouraging collaborative research with global academia, when relevant. 6. Communicating in a timely, factual and professional manner.

IV. THE NATURE OF RESEARCH

In light of these strategic activities, the nature of the IFSWF research should be: • Innovative - with emphasis on knowledge sharing, capacity building, and the

identification of best practice; • Relevant - with emphasis on topical issues, including the use of case studies to

highlight member practice; • Practical - with clear mapping to governance and investment practice, and with clear

translation from theoretical finding to practical implication; • Professional - meeting academic standards (with peer review only on an as-agreed

basis) and addressing members' research questions in factual, objective and timely manner.

• Collaborative - done with members for members' benefit; • Online - using the IFSWF webpage as a collaborative hub and publications channel.

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V. THE RESEARCH FRAMEWORK

The rationale for this policy is supported by IFSWF’s purpose and agreed strategic activities (as above). Four different options for research are available that should be deployed and promoted as part of the framework:

• Pillar 1 (Member's own research) o IFSWF should continue to make member research available via the Forum's

online platforms. This promotes members' research activities and increases the Forum’s value as a central hub for members’ thinking. The Secretariat will seek and accept most material from members, with the criteria being that it must be relevant to the wider membership. The Secretariat will perform basic quality control (typos, grammar, follow-ups with members on key conclusions) and file the research into a suitable category.

• Pillar 2 (Member's collaborative research)

o Sub-committees will be encouraged to produce working papers that express a collective view or cross-member panel perspective on a particular topic and to make these available during the year. This allows members to familiarise themselves with the work before the final presentation at the Annual Meeting. External input to the sub-committees is welcome (e.g. from asset managers).

o For increased relevance and higher standards, the sub-committees should aim to follow guidelines outlined in section IV.

o IFSWF publications and case studies should be driven by submissions from members that are collated and published by the Secretariat, again subject to basic quality control.

o Members will be encouraged to form informal groups to address specific research questions that are not of direct relevance to the entire membership.

• Pillar 3 (Collaborative research with third parties)

o Three different kinds of third-party collaborators present themselves: • Policy institutions. Formal observer roles are in place with IMF (founding

sponsor), IIF (permanent observer) and World Bank (permanent observer). Similar arrangements should be agreed with OECD, AIIB, EBRD and other major policy institutions. Formalising the observer role allows the Forum to benefit from reciprocal benefits and efficient network management at no cost (except expenses).

• Standard setters. The Board can chose to exchange IFSWF observer status with standard setters and thought leaders, like: Principles for Responsible Investments, Focusing Capital on the Long Term, Coalition for Inclusive Capitalism, Hedge Funds Standards Board and similar institutions with shared objectives. Otherwise, they are considered research affiliates.

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• Private sector. The engagements should be with private sector collaborators that are: (a) reputable; (b) relevant; and (c) valuable to the Forum. Reputation should be verifiable among IFSWF members. Relevance suggests that the collaborator allocates human and financial resources to SWF research and collaboration on a topic of interest. Value should be verifiable in the feedback from the IFSWF membership. Private sector collaborators should work directly with sub-committees (SC research partners) or be offered roles as moderators and panellists at the Annual Meetings at their own cost. Appendix 1 provides a summary of the collaborative framework that the Forum could formalize.

• Pillar 4 (Academic research and educational networks) o Major universities have shown strong interest in working with the IFSWF both

on research and educational frameworks for our members. Members are invited to participate in these frameworks on a voluntary and self-financing basis.

o Under certain tightly defined criteria, the Board may authorise financial or other support for academic research (partial subsidy, member contribution match or full cost). This shall not exceed 10,000 pounds per institution per annum and 25,000 pounds in total per annum. Commitments will be made for a maximum of three years, subject to annual review and recommendation by the Secretariat.

o Subject to section IV, the criteria are any of the following: (a) that the research must benefit the membership at large; (b) that there is a substantial element of knowledge transfer; (c) that the initiative promotes the Santiago Principles in a novel manner or (d) that the initiative promotes closer, substantial, links between members.

o Appendix 2 and 3 illustrates two concrete frameworks that members can consider. Other universities are also developing frameworks with educational content and focus on SWFs. The Board should endorse these engagements after deciding on reputation and relevance (report provided by Secretariat) and recommend these options to the membership periodically on a voluntary and self-financing basis.

VI. DELEGATION AND AUTHORITY

Members identify the Secretariat as a clearinghouse and sounding board. This applies also in the research process and execution of the agreed deliveries of the Forum. The Secretariat has a central role in terms of recommending to the Board, work plans, and subcommittee work and engagement with collaborators. The Board authorizes the Secretariat to execute on approved research plans with approved collaborators (Appendix 1). Wherever research is carried out with IFSWF financial contribution, the Secretariat shall recommend the final draft to the Board before public presentation or publication. All research must acknowledge IFSWF contributions. Wherever a member has separately

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contributed time or financial resources, these should also be acknowledged subject to the member’s preferences.

VII. RESEARCH TOPICS AND PRESENTATIONS

The Secretariat will survey the members for suitable research topics that can be prioritised by the Board. The research will be available on www.ifswf.org and selected works will be presented at IFSWF events (especially the Annual Meeting). The progress on research can be monitored in a research plan to be updated at board meeting.

VIII. RESEARCH PARTNERSHIPS

Based on a consideration of reputation, relevance and value offered, the following taxonomy for research partners is adopted:

• Founding Sponsor - IMF only (per members' agreement) • Permanent Observer - Policy Institutions (board approved) • Educational partners - university partners offering educational programs (board

approved) • Research partners - officially endorsed by SC leads or agreed with the board • Research affiliates - Private sector research institutions • IFSWF Advisors - Business relationships (board approved per Appendix 1)

The Secretariat will identify and maintain a schedule of approved collaborators to be approved by the Board from time to time. (Appendix 1).

IX. STEPS TOWARDS A RESEARCH FRAMEWORK

The actionable steps to follow to establish the research framework are as follows:

1) Board endorsement of the research framework and the list of approved collaborators (Appendix 1).

2) Drawing up Memoranda of Understanding with Sovereign Investment Academy and SovereigNET (to develop educational frameworks). (IFSWF Chair and Secretariat).

3) Endorse SC2 research partners (Bridgewater Associates and State Street Global Advisors) and promote the use of external research partners in sub-committee work.

4) Invite prospective policy institutions to formalize reciprocal observer roles (IFSWF Chair and Secretariat).

5) Present research framework to members at the workshop in Baku on 1-2 March 2016.

6) Execute the 2016 research agenda within the new framework. 7) Secretariat to update the Board at board meetings on progress on the agreed

research plans and suggests additions to the list of eligible collaborators. 8) Review framework in Auckland at the 8th Annual Meeting.

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X. RECOMMENDATIONS

Action item: The Board is asked to approve the research framework discussed in this policy and to endorse the implementation of the concrete steps listed above. List of Appendices Appendix 1: Eligible Research Collaborators Appendix 2: Sovereign Investment Academy (Bocconi University) proposal Appendix 3: SovereigNET (Fletcher School Tufts University) proposal

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Appendix 1 Eligible Research Collaborators (for approval)

Type of roles:

• Founding Sponsor - IMF only (members' agreement) • Permanent Observer - Policy Institutions (board approved) • IFSWF Advisors - Business relationships (board approved) • Educational partners - university partners offering educational programs to

SWFs (board approved) • Research partners - Officially endorsed by SC leads (agreed with the board) • Research affiliates - 3rd party research institutions (identified by Secretariat)

Appendix(1:(Global(Mandate(–(Global(Collabora5on(((((

( Global(Academia(

(

Investor(Forums(

Private(Sector(

Policy(Ins5tu5ons(

(

Policy Institutions Counterpart Contact Reputation Relevance Value IFSWF

Role IMF José Viñals

Michael Papaioannou High Medium High Founding

sponsor World Bank Gloria Grandolini

Axel R. Peuker Michel Noel

High Medium High Permanent observer

IIF Tim Adams Hung Tran George Abed

High Medium High Permanent observer

OECD Raffaele Della Croce Joel Paula Lahra Liberti

High Medium High Prospective observer

AIIB Jin Liqun High Medium Medium Prospective observer

EBRD Manfred Sheppers High Medium Medium Prospective observer

European Commission

Bogdan Bogdano Moreno Bertoldi

High Medium Medium Prospective observer

US Treasury Andy Bukol, Trina Rand Viktoria Baklanova

High High Medium Prospective observer

UKTI Sayida Husain High Medium Medium Prospective observer

Standard setters Counterpart Contact Reputation Relevance Value IFSWF

Status OMFIF David Marsh

Pooma Kimis High Medium Medium Research

affiliate Principles for Responsible Investments

Martin Scancke Fiona Reynolds

High Medium Medium Research affiliate

Focusing Capital on the Long Terms

Mark Wiseman Carsten Stendevad


Coalition for Inclusive Capitalism

Lady Lynn Forester de Rothschild


Hedge Funds Standards Board

Thomas Deinet High Medium Medium Research affiliate

Private sector Counterpart Contact Reputation Relevance Value IFSWF Status Bridgewater Associates

Juan Salgado Kyle Delaney

High High High SC2 research partner

State Street Global Advisors

Rodney J. Ringrow William B. Kinlaw

High High High SC2 research partner

McKinsey & Company

Conor Kehoe High Medium Medium Research affiliate

Towers Watson Roger Urwin Tim Mitchell


Investec Investment Institute

Hendrik du Toit Katherine Tweedie Victoria Barberry


Invesco Nick Tolchard Medium Medium Medium Research affiliate Institutional Investor / Sovereign Investor Forum

Loch Adamson Scott Kalb


Standard Chartered

Jukka Pihlman Philippe Sachs


J.P. Morgan Asset Mgnt.

Patrick Thomson Gerald Pane Roberts Grava


Barings Asset Mgnt.

Garry Smith Medium Medium Medium Research affiliate

Barclays Jim McCormick Mark Dearlove Albert Desclee

Medium Medium Medium Research affiliate

Inflection Point Capital Mgnt.

Matthew Kiernan Medium Medium Medium Research affiliate

Amundi Frederic Samama Medium Medium Medium Research affiliate PwC Marissa Thomas

Karina Luchinkina Michel Meert Richard Boxshall Rahul Patel

High High High IFSWF advisor (audit, IT and tax)

Slaughter and May

Adam Eastall Jemma Tag Victoria Lee

High Medium Medium IFSWF advisor (legal)

FTI Consulting Edward Berry Zaman Toleafoa

High High High IFSWF advisor (strategic communications)

Ecowis Wingrave

Jamie Allen Medium Medium Medium IFSWF advisor (accounting)

Virtual staff member

Angela Parker Medium Medium Medium IFSWF advisor (payroll)

Academia Counterpart Contact Reputation Relevance Value IFSWF Status Bocconi University / Sovereign Investment Academy

Bernardo Bortolotti

High High High Educational partner (approved)

Fletcher School Tufts University / SovereigNET

Patrick J. Schena Eliot Kalter

High High High Educational partner (approved)

London School of Economics

Erik Berglöf Julius Sen Jürgen Braunstein

High High Medium Research affiliate

Harvard University - Belfer Center

Katrine Tweedie Khalid Alsweilem


Stanford University Ashby Monk Rajiv Sharma


Oxford University (Oxford Martin School)

Gordon Clark Ian Goldin


Cambridge University (Judge Business School)

Elroy Dimson David Sanders


ESADEgeo / IE Business School

Javier Capape High Medium Medium Research affiliate

Pacific Pensions Institute

Theresa J. Whitmarsh


Rotman ICPM / Toronto University

Rob Bauer High Medium Medium Research affiliate

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Appendix 2 (Sovereign Investment Academy - Bocconi University)

Sovereign Investment Lab Via G. Roentgen, 1 20136 - Milan

Email: [email protected]; www.baffi.unibocconi,it; tel. +39 02 5836 5306

The Sovereign Investment Academy (SIA) - a research partnership proposed by Bocconi University (still in draft form) A vibrant research network for SWFs Beliefs A hard lesson from the financial crisis is that the individual choices that collectively brought about the economic meltdown were rational responses to prevailing incentives in the global financial system. Excessive risk taking combined with short-termism exposed the system to the danger of systemic collapse, with governments and taxpayers called in to a costly rescue of financial institutions. Collateral damages affected the public sector, weakening social safety nets, curbing public provision of goods and services, and threatening the welfare of future generations. Policy makers reacted with extraordinary measures, and we are witnessing recently a return to more normal times. Still, in many regions of the world including developed economies uncertainty about growth prospects loom large. Against this backdrop of present difficulty, a visible shift is observed in global thinking that economic welfare is inseparable from environmental protection, social cohesion and sound governance, and that long-term capital investment is a key to achieve the next stage of economic growth and societal progress. Patient, sovereign capital invested in long-term projects will preserve wealth across generations, generate spillover effects in the economy and society at large, and yield sizable returns for taxpayers. However, in order to take on the sovereign investment challenge, state-of-the-art economic and financial knowledge is required, along with vision, farsightedness, stewardship, prudence, creativity, commitment, and open-mindedness. SIA aims to fill a gap in the existing research and investment community, by offering a unique opportunity blending all the ingredients for successful long-term sovereign investment. Mission SIA is a global, research-based network of sovereign wealth funds that stimulates cutting-edge thinking and practice about long-term investment and sovereign wealth management. SIA brings together an influential community of sovereign investors to

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share state-of-the art knowledge and to interact with top-tier academics and researchers specializing in long-term investment. The qualifying features of SIA’s activities are being:

• Focused and topic-targeted • Untagged • Operationally relevant • Stakeholder-driven

Activities

1. Knowledge and data pool: SIA will manage and keep continuously updated the most comprehensive database about direct equity transactions by global SWFs and possibly long term investors. ICLI will proactively scan existing research and create a repository tool accessible to ICLI partners

2. Targeted research: SIA will launch and provide funding for a limited

number of research projects as being of high interest to SIA (or a subset of) partners, involving top researchers from academia and international research institutions.

3. Executive training: SIA will organize annually the Long-term Investment

Academy, five full days of interactive teaching by top scholars and practitioners. Four classes (2 hours per class) per day. Class size: 40-50. (see Appendix)

4. Community building: SIA will organize two thematic workshops per year

(in June and in October) in Milan and in vibrant financial centers around the world in partnership with local organizations. Workshops will be highly interactive, enhancing discussion and exchange of ideas and best practices.

Tentative Topics Asset allocation with long-horizons: principles, models, and tools Financial instruments and contractual arrangements Institutions and governance for long-term investment ESG and sustainable growth in the XXI century Managerial incentives, contracts and organization Co-investment strategies Early stage financing in innovation Large corporate and SME financing Making PPP work: challenges in infrastructure investment Countercyclical strategies and financial stabilization Legal and regulatory barriers to international investment

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Governance The SIA will be jointly owned and controlled by Bocconi University, a globally top-ranked institution, and by a group of research partners amongst SWFs making a financial commitment. The SIA Board of Directors will include members appointed by the research partners and by Bocconi University. The board will appoint the SIA Chairman and Executive Director. The management team will include of the Executive Director and a COO. Benefits

• Research agenda building • Direct access to research data and outputs, and to state-of-the-art knowledge

repository • Access to a vibrant network of top researchers, experts and practitioners • Flexibility overtime on content relevance • Networking opportunity and open exchange with peers • Open connection to top tier universities

Partners IFSWF members Related institutions, networks and connections UNPRI Long-term Investor Club World Bank African Development Bank Asian Infrastructure Investment Bank EIB EBRD Inclusive Capitalism WEF FCLT ICPM ILPA Leading universities and business schools Budget SIA is a non-profit, cost recovery operation: the estimated tentative annual budget is in the range of € 800k.

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Organizational chart

SIA ISWF members

Board of Directors

Bocconi University

External applications

Executive Director

Workhops

SIA School

Research

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Appendix 2b The SIA Summer School “Leadership” programs abound in all primary business schools specializing in executive education and most of them provide scenario analysis and inputs for investment strategies. However, successful long term investment is both an art and a science: ability in this field is not acquired by the mechanic transfer knowledge from the instructor to the class, but a highly personal skill developed by combining education with experience, and maintained over time by continuous learning and cultural adaptation. The SIA Summer School will thus be unique in fostering:

• State-of-the-art knowledge • Interdisciplinary learning • Creativity, open-mindedness, big picture awareness • Community building

Format Five full days of interactive teaching by top scholars and practitioners. Four classes (2 hours per class) per day. Class size: 30-40. Courses and faculty (tentative) The SIA Summer School’s program aims to cover the main trends that could shape the global economy in the future and to provide state-of-the-art tools for long term investment by offering a balanced mix of interdisciplinary overviews and key practical insights. Lectures will be delivered by top scholars and renowned experts in a highly interactive mode. Topics which will be regularly covered are:

1. Secular economic trends (Amy Chua, Yale University) 2. Drivers of long-term growth (Michael Spence, New York University) 3. Resource scarcity and future of energy (Robert Socolov, Princeton

University) 4. Behavioural finance (Richard Thaler, University of Chicago) 5. Frontiers in IT (Jareed Cohen, Google Ideas) 6. The future of health care (Patrick Soon-Shiong, NantWorks) 7. Global demographic challenges (Massimo Livi Bacci, Università di Firenze) 8. Justice and the moral limits of markets (Michael Sandel, Harvard

University) 9. Geopolitics in a G0 world (Ian Bremmer, Eurasia Group) 10. Tail-risk management and hedging (Nassim Taleb, New York University

Polytechnic Institute, Menechem Brenner, NYU )

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11. Long-term asset allocation and portfolio protection (Zvi Bodie, Boston University)

12. Governance for long-term investment (Bernardo Bortolotti, Università Bocconi)

13. Infrastructure and long-term finance (Stefano Gatti, Università Bocconi) 14. The art of private equity (Georges Sudarskis, Sudarskis and Partners) 15. Responsible investment (Adrian Orr, New Zealand Superannuation Fund)

Venue SDA Bocconi, Bocconi’s executive training school, Milan. Who should attend? Representative of IFSWF members and other invited institutions Governance Activities of the Summer School will be approved and supervised by the SIA Board of Directors, fine-tuning the effective needs of the industry with the evolution of the state-of-the-art of knowledge.

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Appendix 3: SovereigNET proposal for research and educational collaboration (also available in word format)

SWF Research and Educational Collaborative: A Proposal

16 November 2015

A Collaborative Program between the IFSWF, its Members, and the Fletcher School, Tufts University

The Proposal

We propose a collaborative partnership for independent research and professional education between the IFSWF, its membership, and The Fletcher School

• The program will jointly develop a range of academic and research activities:– Research - on the management of long-term, global investment institutions (LTI) and all

facets of their governance and investment, operational, and risk management and 2) their function and roles as permanent members of the global financial system;

– Training Programs – which extend and develop the professional competency of the IFSWF staff and its those of its members;

– A Global Academic Network - to build and cultivate a networked community of sovereign and LTI practitioners, linked both virtually and physically through a series of symposia and practice seminars;

– Understanding of the IFSWF - to promote improved understanding of the IFSWF, its members, and the Santiago Principles among all external stakeholders through effective communications training and the development of outreach programs.

• Administered by SovereigNET, The Fletcher School, Tufts University– With a governance structure that allows for substantive SWF-member input– With a research agenda developed in collaboration with members

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SovereigNET’s Research and Mission Align with IFSWF’s Needs• SovereigNET is Fletcher’s existing research program on global public investors

– Established in 2008, SovereigNET is the largest and longest tenured academic research community dedicated to the study of sovereign wealth and LTI.

– Fletcher’s global expert network of 20+ SWF specialists meets monthly to discuss issues relevant to sovereign wealth and LTI;

– A foundational initiative of The Fletcher School’s Institute for Business in the Global Context;

– More information: http://fletcher.tufts.edu/sovereignet

• Our mission aligns with the IFSWF’s goals– To advance innovative, independent research on the structure, governance, management,

and performance of sovereign and long-term investors;– To design and deliver educational and training programs on sovereign wealth and global

investment management;– To promote - through research and teaching - a deeper understanding of the influences

and impacts of sovereign wealth and LTI on global capital markets.

SovereigNET’s current activities provide a strong foundation

• SovereigNET core programs include a research network, conferences, and database:– The Affiliate Network – global research collaborative of over 20 professionals, academics,

and graduate students;– Building Bridges – annual symposium on global infrastructure investment;– The World Bank Collaboration for Development SWF Platform – open technology and

community of practice in sovereign wealth management by World Bank;– The Fletcher Database of SWF Transactions – our program to monitor and database direct

investment transactions by SWFs.

• SovereigNET’s research agenda is collaborative and aligned with IFSWF’s interests:– Risk factors and sources of return in long-term investment performance;– Originating and executing direct investments in private equity, infrastructure, and real

assets;– Environmental, social and governance factors in long-term risk management frameworks;– The role of sovereign and strategic investment funds in building national economic

competitiveness;– Political risk assessment and mitigation for institutions and portfolios.

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The Fletcher School’s Strengths Extend Beyond Finance

The Fletcher School at Tufts University is a leading graduate school of international affairs located in the Boston area (see appendix for relevant rankings)

• A global student body representing over 70 countries, with 40% from outside the US• Degree programs include Master’s in International Business, International Law, and Law and

Diplomacy, an innovative executive Global MA, as well as the PhD;• A cross-disciplinary educational model focused on analyzing and solving problems in their

global context;• Alumni are distinguished leaders and include heads of state and government, diplomats and

senior military officers, legal and corporate leaders, and financial professionals across public, multilateral, and private institutions;

• Unique global curriculum and successful programing across traditional, internet-intermediated, and also custom-designed educational programing.

Our SWF Research Benefits from Fletcher’s Strengths

Fletcher has a track-record of success in creating programs for economic policymakers

• The Fletcher School Leadership Program for Financial Inclusion - a training initiative for central bankers from emerging and frontier markets provides a model for collaborative SWF research. The program:– Trains a cohort of 15+ central bankers annually– Includes an annual conference and 10+ publications annually– Is supported by the Bill & Melinda Gates Foundation, providing a successful model for an

externally-funded program– For more information: http://fletcher.tufts.edu/FinancialInclusion

• Fletcher’s curriculum and dedicated faculty across disciplines holistically address SWF issues from several angles:– Finance and Economics: Global investment management, global private equity, large deal

and project finance, International political economy, environmental economics– Governance and Law: International financial and fiscal law, mergers and acquisitions,

corporate governance in international finance, international investment law– Strategy and Management: Strategic management of the global corporation, international

communications, global petroleum economics

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Boston is an ideal location for an SWF training program• Fletcher and SovereigNET are members of Boston’s world-class academic community

– Unique cross-registration partnership with Harvard University allows students from both universities to enroll in classes in the other

– Joint degree programs, including those with Dartmouth-Tuck (MBA) and Harvard Law School (JD)

– Active member of distinguished academic community that includes:

• Boston is a center of world-class investment management, servicing, and private equity communities– Proximity allows SovereigNET to attract speakers from Boston, NYC, DC, etc.– SovereigNET’s ongoing local collaborations already demonstrate the value of this

proximity– The Boston investment community includes the headquarters of:

Next Steps

• Upon mutual agreement of the general framework of our proposal, we propose as immediate next steps the finalization of:– The initial and eventual full scope of institutional collaboration;– The organization and governance structure of the collaborative;– The executive leadership of the partnership based upon an agreed delegation of

responsibilities;– The commercial arrangements between the IFSWF, its members, and the Fletcher

School/SovereigNET;– A memorandum of understanding (MoU) outlining the program and all critical success

factors of each party.

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Appendix: SWF Community of PracticeThe Community of Practice is an online knowledge-sharing network jointly managed by the Fletcher School and World Bank (screenshot below)

Appendix: Selected examples of ongoing collaborative research

– A 46 page report on the drivers of investment returns published with the State Street Center for Applied Research

– A series of 3 conferences on global infrastructure finance and investment co-hosted by top global law firm K&L Gates

– Chapters in KPMG’s and ESADEGeo’s annual SWF reports– Monitor-Deloitte– The CFA Institute and Boston Society of Securities’ Analysts

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Above left: An image of Fletcher-State Street Collaborative research; Above center, An image of the contribution to ESADEGeo and KPMG; Above right, an image from the conference cohosted with K&L Gates

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Appendix: Selected University Rankings

• Fletcher/Tufts Ranked 6th globally for a policy career in international relations– Source: Foreign Policy.

http://foreignpolicy.com/2015/02/03/top-twenty-five-schools-international-relations/#section-rankings

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Documents

IFSWF Research Engagement Policy · recommend the final draft to the Board before public presentation or publication. All research must acknowledge IFSWF contributions. Wherever a