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

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

Rating:Funds' Proxy Voting Under More Scrutiny Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 13, 2005

Funds' Proxy Voting Under More Scrutiny

by: Theresa Sim

Mutual funds' votes on global warming and executive compensation are not the only ones that are receiving scrutiny. In a recent report, Common Cause calls on funds to take a more active role in advocating the disclosure of political contributions.

According to the report, in the 2004 season, the ten largest mutual funds companies voted against or did not vote on shareholder resolutions requesting disclosure of political contributions. (In the 2004 proxy season, shareholders filed political contribution resolutions at more than 25 of the Fortune 500 companies, according to the report.)

The group is targeting mutual funds because of funds' large ownership stake in the equity market; Common Cause estimates that funds own 12.1 percent to 34.2 percent of companies who will face a political donation resolution in 2005.

Common Cause, not trusting the fund CEOs to change their ways, is calling on its own membership to vote for the relevant shareholder resolutions in 2005, urge fund investors to contact fund CEOs to vote for the resolutions, and write letters themselves to fund CEOs.  

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

 Do You Recommend This Story?

Return to Top
 News Archives
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:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use