activistinvesting
Activist Investing In AsiaAnd, as I argue in the foreword, “change is fast becoming unmanageable.” A record 12 demands for board representation were at least partially successful as of May 3, 2022, suggesting that last year’s 24 demands might be bested. Since then, most proxy fights have gone management’s way but a settlement between Japanese restaurant operator General Oyster and top holder Nexta shows that some of the old contempt for shareholder demands is being phased out. Q1 2022 hedge fund letters, conferences and more Indeed, shareholder rights are starting to be used to pressure compan...
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Dealmakers take note, the sectors with the most activism aren’t necessarily the ones with the most M&A action. Q2 2021 hedge fund letters, conferences and more Activists Push For M&A DemandsComparing the sectors with the most companies publicly subjected to activist demands in our H1 statistics to those with the most demands pushing for M&A (mostly pushing to sell the company but including a handful of calls for acquisitions), highlights some of these discrepancies. In the first half of 2021, 11% of push for M&A demands took place in the energy sector, compared with only 5% of all activist dem...
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What’s New In ActivismEngine No. 1 received $100 million from “prestigious investors” to start its ESG-focused exchange-traded fund (ETF) and partnered with digital investment adviser Betterment. Q1 2021 hedge fund letters, conferences and more The activist stated that investment strategies should start to look at ways to effect change at ESG-laggards and not just divest. "There shouldn’t be a trade-off between positive impact and financial performance," said Yasmin Dahya Bilger, Head of ETFs at Engine No. 1. The ETF's suggested ticker, VOTE, "will be a unique solution to this long-time concer...
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U.S. activists have had a tough proxy season but those elsewhere are starting to get their mojo back. Q1 2021 hedge fund letters, conferences and more Activism Is BackWhile activism is certainly back, with almost a dozen proxy contests for board seats held in the U.S. alone this year as of June 16, activists have only been successful in 61% of resolved board representation demands at American companies thus far. On average, that rate has been about 73% over the last seven proxy seasons, dipping below two-thirds just once, in 2017. The total number of board representation campaigns is also well...
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The past 16 months have given activists pause when it comes to launching campaigns in Europe but we’re willing to bet their appetite will return for 2022. Q1 2021 hedge fund letters, conferences and more In our new special report, Shareholder Activism in Europe 2021, released earlier this week, we don’t shy away from the fact that 2020 was an exceptionally quiet year, and at least the first half of 2021 could be quieter still. Dedicated activists have publicly subjected just 12 companies to activist demands so far this year (as of April 28), down from 20 in the same period last year and a peak...
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Picking a country of the year for shareholder activism and corporate governance was hard enough before COVID-19. Now, it almost seems like a competition for which markets have backslid the least. Q3 2020 hedge fund letters, conferences and more According to Activist Insight Online, seven of the 10 busiest markets for activism saw fewer companies experience public activist demands during 2020 (the three exceptions were Sweden, Singapore, and France). Support for shareholder proposals worldwide fell for each of the five largest asset managers, according to Proxy Insight. Activist Campaigns In Ja...
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Environmental issues to fuel surge in shareholder activism, say US investors Q3 2020 hedge fund letters, conferences and more 91% of U.S. institutional investors say shareholder activism will grow over next three yearsInstitutional investors see environmental issues as the area they can most influence66% think their own organization is responsible for promoting change in investee companies87% think asset managers bear responsibility for bringing about change in investee companiesEnvironmental Issues To Increase Importance Of Shareholder Activism(London, December 2020) Nine in 10 U.S. instituti...
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Yesterday’s Shareholder Activism Insight survey report, produced by Activist Insight for Schulte Roth & Zabel, and in association with Okapi Partners, contains encouraging news for those expecting a bounce back in activist investing.Q3 2020 hedge fund letters, conferences and moreWe surveyed activist funds in October to find out what they thought of the current climate. The timing, two years after our last survey and going into a U.S. presidential election, an upswing in global COVID-19 cases, and buying season for the 2021 proxy season, could not have been better.The Impact Of COVID-19 On Act...
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For those starved of action, 2020 is finally starting to show signs that activism is picking up.Q3 2020 hedge fund letters, conferences and moreSince the beginning of September, 150 companies worldwide have been publicly subjected to activist demands, up from 143 in the same period last year. Given that activism was down about 14% year-on-year at the end of the third quarter, that is a significant turnaround for an industry shellacked by the coronavirus pandemic.Activism Outside Of The U.S. Is Picking UpThe downside is that this action is not taking place in the U.S., where volume is actually ...
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Activist Insight releases inaugural Proxy Fights special report Q3 2020 hedge fund letters, conferences and more“Proxy fights 2020” reveals how the most eye-catching of shareholder actions has evolved in a time of increased engagement and activism. The Basis Of All ActivismA new special report from Activist Insight calls proxy fights “the basis of all activism” and attests to their continued appeal while highlighting that their use has become increasingly rare among dedicated activists thanks to their mixed outcomes.According to data from Activist Insight Online, the number of U.S. board repre...
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