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Jana wants to add ‘impact’ to activist hedge fund

The $8.5 billion hedge fund is looking to raise billions of dollars to target companies that are doing well and could also be doing good, reports The Wall Street Journal.

To make the point, Jana is working with the giant California State Teachers’ Retirement System to pressure Apple to take action on “iPhone addiction” among the young.

The move isn’t the first of its kind: Shareholder activism made headlines in the impact community last year after State Street said it would vote against gender imbalance on company boards, and investors backed climate-risk resolutions for oil companies ExxonMobil and Occidental Petroleum.

Jana has recruited singer Sting as the fund’s celebrity face. Of course, impact happens only if the shareholder pressure succeeds.

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