FYI: Mutual funds vote in favor of company management the vast majority of the time, according to a new study, a rate that has only increased in recent years.
The study released Monday, conducted by the Investment Company Institute, a trade association, found that the mutual fund industry voted with management 94% of the time during the 2017 proxy voting season. That’s an increase from 90% in 2009, the last time ICI did a similar study. By comparison, funds voted for shareholder proposals 35% of the time in 2017, according to the new study.
Regards,
Ted
https://www.barrons.com/articles/mutual-funds-proxy-voting-51564430909?mod=djem_b_Weekly barrons_daily_newsletter
