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
But in the past month,
One of the reasons why funds may become more active is because they have had to disclose their proxies since 2004, and investors are beginning to take note of whether the funds are voting in shareholder’s—rather than management’s—best interests. Funds are also rivaling the returns of hedge funds, which often successfully shepherd the companies they own.
“They’ve taken note of the outsized returns of activist hedge funds,” said Christopher Young, who heads up M&A research at
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.