Transparency is a good thing, but it would be unfair to single out sovereign wealth funds for special punishment over this issue. Hedge funds and private equity groups are even less transparent than SWFs, and their influence in the global economy is much greater. [1] Some countries (e.g. Norway) already operate very transparent investment strategies. Many have agreed to the Santiago Principles which encourage transparency and disclosure of financial information. [2] It is likely that other countries will come over time to follow their lead voluntarily, as it is in the interest of their own citizens to see that the state is managing their money in an efficiently and honestly.  [1] Avendaño, Rolando, and Santiso, Javier, ‘Are Sovereign Wealth Funds’ Investments Politically Biased? A Comparison with Mutual Funds’, 2009, p.9.   [2] Ibid