Are mutual funds now less inclined to be activists?

Voting patterns for the last financial year show an interesting trend

Swraj Paul’s sweeping  moves to snap up shares in Indian companies and move to ‘clean them up’ are seen by some to be one of the rare occasions that promoters had reason to fear their shareholders in India.

This happened in the 1980s. More than three decades later, large institutional players seem less willing to rock the boat.

The introduction of disclosures on how mutual funds voted, as well as the entry of proxy advisory firms who could advise them on resolutions, was expected to help bring together opposition against unscrupulous promoters, and resolutions that might not be entirely in