Mutual Fund Proxy Voting Victory
In This Chapter
◆ Understanding the history of mutual fund proxy voting
◆ Investors gain transparency in funds’ proxy votes
◆ Influence of mutual funds
◆ Rights of mutual fund shareholders
Mutual funds, along with institutional investors such as pension funds and foundations, own most of the outstanding shares of stock. This puts them in a powerful position to influence change, but they haven’t always taken advantage of their position. Socially responsible mutual funds have been upfront about their proxy voting policy and records. Traditional mutual funds, however, up until 2004, generally had no proxy voting policy and almost never disclosed how they voted their shares in the many companies they owned. ...