Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SRI Proposals Don't Hold With Fidelity Investors Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 15, 2009

SRI Proposals Don't Hold With Fidelity Investors

Reported by Meredith Mazzilli

Fidelity fund investors nixed the latest in a series of genocide-related shareholder proposals Wednesday. The vote considered 13 Fidelity funds, and regarded adding a policy to prevent Fidelity from investing their savings in "companies that substantially contribute to genocide or crimes against humanity".

Four funds reached quorum, with affirmative results ranging from 18 to 25 percent. The remaining nine funds did not reach quorum and were adjourned to an August 14 meeting. The four funds recording votes were the Fidelity Asset Manager, the Fidelity Asset Manager, Fidelity Investment Grade Bond and Fidelity Cash Reserves Fund.

The shareholder proposals were largely a product of activism from the Investors Against Genocide group. Eric Cohen, chairperson of the group, responded to the latest vote by noting that the vote may not be representative of the feelings of Fidelity investors as a whole.

"Last year, some two million shareholders of record voted for the proposal, despite Fidelity's active opposition," Cohen noted. "Again this year, huge numbers of Fidelity customers voted for the proposal. One can only imagine how much larger the number of affirmantive votes would be if more ordinary investors took the opportunity to vote, rather than discarding their proxy materials, as is common practice."

Another genocide vote faced a similar fate at a Vanguard shareholder meeting early July (see The MFWire, 04/06/09). 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use