Fairly or not, the world tends to view sovereign wealth funds as shadowy operations, which prefer to stay out of the limelight. But is that about to change? The Telegraph reports that Temasek, the massive Singaporean sovereign wealth fund has updated its investment charter for the first time in seven years, pledging "sustainable returns by engaging with the boards and management of our portfolio companies."

The fund has sustained some huge losses; it owns 20 percent of Standard Chartered and nearly 10 percent of Merrill Lynch. And the people back home haven't been pleased. This may be a welcome development. As more SWFs engage management as shareholders, they will certainly pierce the cloud of secrecy that has followed them. 

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