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Rating:Activists Rack Up Initial Victory Against Fido Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, January 25, 2008

Activists Rack Up Initial Victory Against Fido

by: Armie Margaret Lee

Activists pushing for genocide-free investment policies will be able to bring their proposal before shareholders of Fidelity funds, the Associated Press reports. Back in November, Fidelity requested assurance from the SEC that the Boston fund firm wouldn't face enforcement action if the proposal came off the shareholder ballots. This week, the SEC said it doesn't agree with Fidelity's arguments that the proposal -- which would require fund boards to ask managers to weed out investments tied to human-rights violations and genocide -- didn't meet criteria to bring it before shareholders, according to the report. Other fund firms that received shareholders proposals penned by Investors Against Genocide include Barclays, Franklin Templeton, T. Rowe Price and Vanguard.  

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