Fundsters interested in (or worried about) acting as activist shareholders may want to look at Roger Ferguson
's op-ed column in today's Wall Street Journal
. Ferguson, the president and CEO of TIAA-CREF
the virtues of President Barack Obama's proposal to give shareholders more power and urges institutional investors, including mutual funds, to wield that power.
| Roger Ferguson |
"Institutional investors have a lot of clout if they choose to act," Ferguson opines.
Industry insiders should take heed, as Ferguson has clout. He's a member of Obama's Economic Recovery Advisory Board and he previously served as vice chairman of the Federal Reserve's Board of Governors.
TIAA-CREF is itself a mutual fund firm and a giant provider of defined contribution retirement plans (i.e. 403(b)s, 401(k)s, etc.).
Neil Anderson, Managing Editor
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