The Hermitage Fund

The Hermitage Fund - The Hermitage Fund Case Pre-Analysis...

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The Hermitage Fund Case Pre-Analysis The Hermitage Fund was “an investment fund focused on investing in Russian equity securities” that was highly successful compared to the Russian market index. Other than being highly profitable, what made the Hermitage Fund so remarkable was the fund’s manager William Browder. Unlike other investors who were passive in company involvement and expressed dissatisfaction through the sale of stock, the Browder took a much more active role in investing by “aggressively focusing on corporate governance and shareholder activism”. In practice, this meant that the fund took on long term investments that Browder believed to be undervalued largely because of corporate governance problems. Using western media, he uncovered the corruption and used shareholder pressures to eliminate it. The basic issues addressed by this case are whether or not Browder’s actions were just. Should shareholders and individuals get involved in the way he did to aggressively fight
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