The Milken Institute Global Conference was held on April 28-30, 2008 in Los Angeles. Californian Governor Sсhwarzenegger, many government officials, high-level executives of world’s leading banks, representatives of international financial institutions participated at the conference. Shahmar Movsumov, Executive Director of the State Oil Fund of the Republic of Azerbaijan made a speech at the panel on sovereign wealth funds. The activity of sovereign wealth funds and their role in world’s capital markets were discussed at the conference.