Activist Hedge Funds Outperform: Goldman Sachs

Activist hedge funds pushing for corporate change have outperformed their more passive brethren, according to a Goldman Sachs Group Inc (NYSE:GS) research note sent out Friday. "Activist funds have returned 40 percent during the past two years vs. 23 percent for the typical equity hedge fund," wrote Goldman analysts in a note. They analyzed 778 hedge funds with a combined $1.8 trillion in gross equity positions.