Business Services Industry
Shareholder activism: is it here to stay?
Australasian Business Intelligence, June, 2007
Byline: Tony Cole
Jun 21, 2007 (Keeping Good Companies - ABIX via COMTEX) -- Australian superannuation funds have a lot to gain from shareholder activism. Activism takes resources, so in order for super funds to remain within the confines of the "sole purpose" rule, any action taken must have the goal of increasing value for investors. Perhaps one of the earliest and most successful examples of activism is the creation of the CalPERS list. CalPERS, a US pension fund, began actively lobbying and communicating with the boards of its investments assets in the 1980s. CalPERS now releases an annual list of funds that it intends to target.
Publication Date: June 2007
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
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