Thursday, 20 November 2014
Last updated 8 hours ago
May 22 2008 | 2:00am ET
The Children’s Investment Fund is opening yet another front in its battle with Japan’s largest electric utility.
The London-based activist shop, which has apparently been stymied in its effort to double its stake in Electric Power Development Co. to 20%, now plans to push fellow shareholders to back its demands for bigger dividends and smaller cross-shareholdings. The hedge fund also plans to ask shareholders how they will vote at the June 26 annual meeting, to “expose serious conflict of interest of supplier and cross-shareholders.”
TCI’s proposed proxies for the meeting include seven items involving cross-shareholdings, dividends, share buy-backs and outside directors. The company, better known as J-Power, has rejected all of TCI’s demands thus far, and the Japanese government earlier this month stepped in to prevent the hedge fund from boosting its stake.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...