engineno1
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...
ValueWalk
Engine No. 1 is the activist hedge fund that targeted Exxon Mobil Corporation (NYSE:XOM) and successfully placed three candidates on their board of directors. They have now announced the launch of an exchange-traded fund (VOTE), and this has already received $100 million in commitments. This is a landmark situation in shareholder activism, and the question now is if shareholders should be worried for the future. Q1 2021 hedge fund letters, conferences and more Exxon Mobil Doubles Down On Conventional Fossil FuelsNicholas Hyett, Equity Analyst at HL commented: “Company AGMs are usually pretty b...
ValueWalk
It’s fair to say that Engine No. 1’s victory over Exxon Mobil this week is completely unprecedented. It’s also much more than that. Q1 2021 hedge fund letters, conferences and more The Poor State Of The Proxy PlumbingAt the time of writing, at least two of the activist’s four nominees were forecast to win election to the board, while the fate of one other and four management nominees were too close to call. Investors also voted for two shareholder proposals on lobbying. That haul, plus Exxon’s scramble for extra votes by calling a recess during the annual meeting and the still-uncertain final ...
ValueWalk
This week’s nomination of new director candidates at oil supermajor Exxon Mobil shows just how far activist investing has evolved in the three years since its first steps towards embracing environmental and social impact. Q3 2020 hedge fund letters, conferences and more Engine No. 1's Activist CampaignEngine No. 1, a newly formed investment fund that includes activism and investments in private businesses among its strategies, argues that shareholders should get a vote on Exxon’s commitment to heavy investment in fossil fuel extraction. Describing the strategy as a "failure to be adequately di...
ValueWalk
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