Sovereign Wealth Fund

The Turkish Government, in an unprecedented decree, announced the transfer of its most valuable financial and real assets into a wealth fund on Jan. 5. For any ordinary Turkish citizen, the "transfer of assets into a fund" sounds a bit shady.

At the 47th World Economic Forum (WEF) in Davos, Switzerland, I heard an interesting Turkey rumor.  It was said that the recently established Sovereign Wealth Fund (UVF) decided to have a strong representation at Davos this year. They arranged meetings and interviews beforehand, and it was rumored that Energy Minister Berat Albayrak was to head the delegation.