Jana Partners’ activist fund gains 52% as bets such as ConAgra pay off GlobeInvestor
This translation has been automatically generated and has not been verified for accuracy.Jana Partners LLC, the hedge fund that concentrates exclusively on activist investing after shuttering two stock-picking portfolios early last year, told investors that its Jana Strategic Investment fund returned 52 PER per cent in 2019, two of them told Reuters on Monday.
Last year’s gain is sure to rank Jana as one of 2019’s biggest winners in a field of activist investors that push for operational fixes, refreshed boards and even company sales. Jana’s returns stand out, investors said, because gains were largely directly related to work the firm did to make changes at target companies.
In August, Jana disclosed a large new stake in Outback Steakhouse owner Bloomin’ Brands Inc., returning for the second time in nearly two years. By November the company was saying that it would put itself up for sale. In the last three months the company’s share price has climbed 15 per cent.
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