1. Vanguard & Fidelity Not Keen on Proxy Access - Mutual Fund Commentary

    Vanguard & Fidelity Not Keen on Proxy Access - Mutual Fund Commentary

    The country’s largest mutual fund firms, Fidelity and Vanguard, are reportedly opposed to proposals of letting shareholders ‘nominate corporate directors and challenge entrenched boards’. A report from The New York Times notes that investors are questioning if these two mutual fund giants were the “skunks at the proxy access party”. Shareholders have been denied this right for decades, and the latest efforts to offer proxy access is facing a hurdle...

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    1. In a matter of months, the landscape has shifted dramatically in favor of greater accountability…Because of this unprecedented coalition, proxy access is becoming the new normal.
    2. Whose side are they on?... The side of the entrenched management, or the side of the shareholders they are supposed to represent?
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