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Investment Funds

With the receding likelihood of the enactment of the ‘proxy access rule’, certain investor groups’ strategy has been to promote the ‘majority vote’ rule with respect to director elections. This may be seen as an alternative method of gaining some control over corporate board composition in the US. The rule requires that directors can only […more…]

Some funds are more likely to vote against management than others, both on management- and shareholder-sponsored resolutions. During 2004 US Investment Companies were required for the first time to publicly disclose their voting. Also during 2004 shareholders appeared to lose the battle for access to the proxy ballot in proposing their own nominees. So for […more…]

Socially Responsible Investment (SRI) firms often support individual directors on the boards of portfolio companies, even when those same individuals are deeply implicated in the dirty and dangerous industries from which SRI recoils. In the latest director voting disclosures it was revealed that Domini Social Investments, one of the nation’s leading socially responsible investment companies, […more…]