Activist fund managers could be forgiven for having a spring in their step this year. They are not only profitable again – they are also fashionable.
The pronouncements of Lords Myners and Mandelson, UK ministers for the City and for business and enterprise who have characterised the financial crisis as a failure of corporate governance, appear to have prompted fund managers into action.
Mainstream shareholders have taken umbrage, and seem to have decided there is value in standin
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