More Mutual Funds Adopt Shareholder Activist Tactics

Acting more like aggressive hedge funds, mutual funds are increasingly expressing their opinions about how the companies they own should be run, The Wall Street Journal reports. OppenheimerFunds’ rejection of the management at Take-Two Interactive Software is just the beginning of an new activist movement among mutual funds, although it is the first time in the company’s 46 years in business that it has wrangled with management.

But in the past month, T. Rowe Price Group, spoke out against a leveraged buyout of Laureate Education as well as the merger of two energy companies. And for some time now, Pzena Investment Management has been trying to stop Carl Icahn from acquiring Lear.