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Because activist pension funds are __________ in nature, they tend to take action when __________. reactive; a firm is underperforming proactive; a firm's performance is

Because activist pension funds are __________ in nature, they tend to take action when __________. reactive; a firm is underperforming proactive; a firm's performance is average or above-average reactive; a firm's performance, no matter the current level, could be improved proactive; a firm is overperforming but undervalued

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