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write a detailed essay summarizing the article
https://learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5bd85a749196f/4357630?X-Blackboard-Expiration= XXXXXXXXXX&X-Blackboard-Signature=3MGNvgsbVQtYR5yR8ckroNiiMUT2WtRm%2Fge6acIy10Y%3D&X-Blackboard-Client-Id=109076&response-cache-control=private%2C%20max-age%3D21600&response-content-disposition=inline%3B%20filename%2A%3DUTF-8%27%27Activist%2520HFs%2520-chapter-7.pdf&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Date=20201218T030000Z&X-Amz-SignedHeaders=host&X-Amz-Expires=21600&X-Amz-Credential=AKIAZH6WM4PL5SJBSTP6%2F XXXXXXXXXX%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Signature=90180ff19634a8a995ecdca227b0a6af95bf001069d6f65e646cb2ec48326af8


activist-hfs-chapter-7-5y1sourr-dmaaf5y4.pdf
Answered Same Day Dec 19, 2021

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Pallavi answered on Dec 20 2021
157 Votes
Activists Hedge Funds
The use of activists hedge funds has been growing rapidly over the last twenty years. It has been rising as an asset class and has made a significant effect on the management of publc companies. The hedge funds are called as activists as they involve use of activism as their main strategy in a large portion of all their investments; however they may also use other strategies apart from activism.
    The phenomenon of activism being ca
ied out by investors was first highlighted in the 1980’s. It was the time when public pension funds had started to put pressure on management of corporate to change their corporate governance policies and practices that were created for the purpose of protecting the cu
ent management from outside investors who could possibly act as raiders. There were further efforts taken in this direction by Jesse Unruh, who was the treasurer of California in those times. The main intention behind these efforts was to ensure that all the shareholders get fair treatment after the incident of Texaco that took place in 1984, in which all the shares were purchased from one raider at a premium price without making an offer to the public pension funds. The proposals made by California Public Employees’ Retirement System (CalPERS) were another landmark that marked the rise of activism. CalPERS was the biggest pension fund in the U.S., worked towards picking those security holdings which were not performing well and made an effort to persuade its management to...
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