Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

Fund Forward

Labor Group Takes Notice Of Funds' Proxy Votes

It's been three years since the Securities and Exchange Commission began requiring funds to annually disclose their proxy voting records. When the measure was passed, many dismissed it as a mere administrative nuisance, reasoning that even if investors eventually began to pour through funds' voting records, the day when they would be able to systematically make sense of the information, let alone actually be interested in it, was a long way off.

Since then, investors have become increasingly aware of the fact that mutual funds own 25% of all of the publicly traded stock in this country worth $9.5 trillion.

The day of proxy vote reckoning may have finally arrived.

One influential group representing $180 billion in pension assets voiced its anger last week over support of what it deems excessive executive pay packages. A federation of seven unions representing six million workers interested in creating universal healthcare and a secure retirement, called Change to Win, last Monday challenged 14 mutual fund companies on their support for directors who voted in favor of enormous pay packages for executives at companies facing financial challenges, including Home Depot. Specifically, the group wants to know why the fund companies, which include Fidelity Investments and American Funds, can justify these pay packages to investors.

The inquiry comes on the heels of a report from The Corporate Library indicating that fund companies are increasingly voting their proxies in favor of management proposals. In 2006, funds supported 92% of management-sponsored proposals but only 37% of shareholder-sponsored recommendations. This is up from support of 90% of management proposals in 2005 and 89% in 2004.

In regards to compensation, funds voted in favor of management-proposed executive compensation recommendations 74% of the time. The greatest support came from Alliance, Barclays Global Investors and Dreyfus, which supported more than 90% of such proposals. The least support came from Federated Investors, which opposed management-proposed executive compensation packages 61.8% of the time, and Putnam Investments, which voted against them 51.2% of the time.

To date, funds' proxy reports have only been bandied about among academics, pension plan giants and those in the industry. The fact that a union group is now paying attention to these records proves individual investors are wising up-and fund companies will have to be prepared to answer to their pointed questions.

(c) 2007 Money Management Executive and SourceMedia, Inc. All Rights Reserved.

http://www.mmexecutive.com http://www.sourcemedia.com

Recent Posts

Mutual Funds Must Go High-Tech-v. 3.0

Over the last number of years, mutual fund transfer agencies and shareholder communications companies have tried to convince shareholders to accept paperless summary prospectuses, proxies, trade confirmations and electronically stamped signatures. Fund supermarkets and web home pages have broadened their horizons to include market commentary, videostreaming and personal financial news. At the same time, exchange-traded funds, funds-of-funds, hedge FoFs, unified managed accounts, target dates, 401(k) auto enrollment and heightened awareness among people throughout the country of the difficulties of being retired-have taken off.

Test of the Massey Mine

Fund giant boards of directors at AllianceBernstein, American Funds, Fidelity, Vanguard and others are reportedly starting to bring about meaningful change in the corporations in which they are invested. Proof should come any day now, when the shareholder proxy votes from the annual meetings are released. Fund chief executive officers spoke about the power and influence their proxies wield in an interesting Reuters article last week, "Mutual Funds Seek to Shed 'Rubber Stamp' Tag."

Milestones

In 2011, 401(k) plans will turn 30, but the milestones the mutual fund industry has reached in this time are but a nanosecond in the history of U.S. retirement policy. Executives we interviewed for this special edition of Money Management Executive for the Investment Company Institute's meeting in Washington, speak to important milestones of the recent past and into the future. Look inside for observations and forecasts by Ted Benna, Robert L. Reynolds, Dan Fuss, David C. John, Steven Miyao and others.

At Age 30, It's Time for a Revamping for the 401(k)

This year marks the 30th anniversary of the 401(k), the revolutionary retirement savings vehicle that has been annihilating pension plans, empowering individuals to take part in the stock market-and, sadly, that left retirees with the misfortune of leaving the workforce in 2000 or 2008 very badly off. The cracks in the system are prompting many asset managers, regulators and retirement experts to take a hard look at 401(k)s and how they can be fixed.

Index of Posts

67 Comments

Everyone engages in walking, regardless of age. We can be schooling or working, and may be required to walk fair distances to and from our destinations. This is the most basic of all movements. It involves forward movements only, with minimal stress on the heels. Therefore, you can wear a nike free 3.0 shoes with very thin soles and still be able to walk long distances without feeling tired.nike free 3.0 is only 7.0oz.Or a nike free 7.0 also is very nice . The Nike free shoes will offer you a good lifestyle. you can choose one of them from ourNike free run sale website .

Posted by: xyzhen l | June 5, 2012 10:21 PM


A nice shoes offers comfort to the wearers, and helps support the lifestyle that the individual is engaged in on a daily basis. Hopefully, the Cheap nike free run is an active one, for an active lifestyle helps to boost metabolism. But imagine wearing a pair of shoes that is unsuitable for any physical activity. An example this would be a pair of footwear with soles that are too thin for running. Nike free running shoes will give you a new enjoy. Every people will fall in love with the Cheap nike free shoes.

Posted by: xyzhen l | June 5, 2012 10:17 PM


The best Jordan Shoes you can do for yourself when buying Jordan 23 is to make sure you buy Buy Air Jordans For Sale that fits with the sport you are going to use. As an example, some of the Air Jordan 2012 will be good for an overall sneaker. They are designed specifically for good service to feet in Air Jordans 2 and you will be sure that your feet will be comfort in Air Jordans 3. You can only buy one Cheap Jordans a basic cross training shoe would be your best Discount Air Jordans Shoes because it is made to support you through a variety of Jordan Release Dates. A good example of this shoe is the Air Jordans 10(X). This one is designed to be an inside and outside Air Jordans 11(XI) and it also gives you the support you need Air Jordans 7(VII).

Posted by: air b | June 5, 2012 1:42 AM


we can buy a pair of sunglasses from a sunglasses shop near your house or we can buy it from a Sunglasses shop online .buying from internet ,we can not see the really stuffs ,so we need choose a good website to buy from . But there are so many of shops online ,then how to choose one with high qualities and better price .You can go to our website and have a try .we sell many brands of sunglasses such as Versace sunglasses,okaylay sunglasess and so on .You can find the newest style sunglasses from our website .So for example you can buy a pair of Chanel sunglasses 2012from our website easily if you want .

Posted by: xyzhen l | May 22, 2012 1:56 AM


Decorative painting and landscape painting, art paintings for sale have a high artistic level and ornamental value.abstract art paintings We can Glimpse from the style of beauty and local culture, experience the exoticcustoms.art deco paintings Composition layout of the whole painting light and dark has caused exude amood, ie,art paintings dense and thick, colorful, gleaming, makes the whole picture and intricate,beautiful, give a sense of the people relaxed and happy. http://www.artforsalecheap.com/

Posted by: jiade j | May 14, 2012 3:11 AM


The NBA announced the first annual awards. NBA Shop The SAN Antonio spurs coach gregg popovich won NBA2011-12 season of "the best coach". Tracy Mcgrady Shoes Gregg popovich led the spurs veterans staged the lockout-shortened season "miracles", Zoom Kobe 7 Shoes in the western conference amongst the elite is obtained in the top of the charts the regular season record. kobe zoom 6 At the same time, the spurs also created the continuous 15 season NBA playoff record of march.

Posted by: jiade j | May 14, 2012 3:09 AM


In particular, products from coach factory outlet with leather design are fashionable, handmade,leading the wave of American pop.It with simple,durable and unique style to win consumers.The coach factory online make no guarantees to their inventory so you may lose a really great deal or style simply because you did not act.To find a Coach Bag of any size, color or style to fit your needs at the coach factory outlet online is a very necessary thing for every beautiful woman.

Posted by: yan l | May 4, 2012 9:24 PM


mulberry uk create super shock many of the style with may completely different role.It has however getting confirmed how they insure the fact that merchandise you purchase will genuinely be reliable mentor product to mulberry uk outlet.

Posted by: online4426 o | April 23, 2012 1:33 AM


lunettes de soleil Gabbana lunettes soleil Gabbana lunette Gabbana pas cher

Posted by: chun h | April 21, 2012 3:34 AM


Getting a website up and going theses days is just a couple of clicks away and it costs from nothing to a very low monthly cost. Keeping a visitor on your website is however Not so Easy.Regards, UK Dissertation Service

Posted by: Dissertation H | March 25, 2012 3:10 AM


You can find many Burberry Outlet Store Online now with the google website search ,so that you can buy some Cheap Burberry Bags directly from the website,you needn't go aboard now if burberry store are not exist in your local city.And the Burberry Bags On Sale with a incredible price ,you should be happy with them.

Posted by: damon g | March 19, 2012 10:33 PM


At the Securities and Exchange Commission's meeting on April 17 and 18 in Washington, D.C., open only to chief compliance officers, SEC chief examiner Gene Gohlke announced that mutual funds can now add forensic testing to their SEC exam checklist of funds' own annual internal compliance reviews.Regards, Dissertation Writing Help

Posted by: Dissertation H | March 13, 2012 4:44 PM


Getting a website up and going theses days is just a couple of clicks away and it costs from nothing to a very low monthly cost. Keeping a visitor on your website is however Not so Easy.Regards, Hookah Online

Posted by: Dissertation H | January 16, 2012 3:22 PM


If hedge funds can dramatically increase the cost of oil, they can have a huge impact on the economy. Oil prices are a component of inflation, which cuts into consumers ability to purchase. Since consumer products are 70% of the U.S. economy, a restriction in consumers buying power will lead to a slowdown in the economy's growth. Regards, Buy Dissertation Online

Posted by: Dissertation H | January 15, 2012 8:16 AM


Post is nicely written and it contains many good things for me. I am glad to find your impressive way of writing the post. Now it become easy for me to understand and implement the concept. Thanks for sharing the post Regards, Dissertation Examples

Posted by: Dissertation H | January 6, 2012 2:17 PM


The brand names who specialise in just Moncler Mens Coats are growing in popularity and noteriety, and New Moncler Down Jackets are widely offered on the web and in selected large Moncler Women Jackets. 1 well recognized French brand name is 'Weekend a la Mer', and they offer you a smaller but stylish and sophisticated Moncler Mens Jackets. Being a French brand Discount Moncler Mens they certainly offer both warmer selections for the Winter via to Spring months, as well as http://www.monclermenstore.com/.

Posted by: feg g | January 4, 2012 7:58 PM


Feed stream and is detailed in nike air max writing is not enough to prevent damage: Owen Smith, a Runner's World magazine efforts.Shelter Oregonian on.editor is passed to the cold brought in order to provide an update. Western Ontario (University of Western Ontario) and the University of Toronto.Another reality that is where nike air max 90 we possibly can be. Destroyed 250 homes north of the cheap north face jackets bridge 185 miles away in a major crisis due to the facing.To 8365 feet rising to 9677 feet at the summit are to reduce the piece, it's a horse of a mile and a shoe-shaped crater alternative is normal.

Posted by: fds d | January 4, 2012 12:23 AM


Jerseys that have 2011 Super Bowl jerseys sewn on numbers are more 2011 pro bowl jerseys expensive to make. There's a joke flying discount nfl jerseys around saying that the more expensive your jersey, the more real it is.

Posted by: xiao h | December 18, 2011 11:43 PM


One classic type of Moncler Women is the windbreakers. These type of men's coats are wearable for all types of seasons. Moncler Winter Jacketst is made of fabric that could stand through time and it belongs to the category of light men's Moncler Boots. During winter season, these type of Moncler Coats Women could protect you from the chilling wind outside and at the same time warmth your body. And Moncler Jackets Men could also be wear during winter since it is made of lightweight materials which is warm for you to bear Moncler Coats Women.

Posted by: patrick2009 l | December 18, 2011 8:56 PM


The best men's Cheap Moncler coats are fashionable, affordable and keep you warm. Make sure you shop around when looking for your Moncler Vest Sale and you will find one that fits the Moncler Jackets UK. I have owned several throughout the years and have been pleased with every Moncler Mens Jackets purchase decision I have made. With an ever increasing number of designers Moncler Womens Jackets entering the market it is easier and easier to find a great pea coat for Moncler Coats Online.

Posted by: patrick2009 l | December 18, 2011 8:54 PM


Thomas Sabo Purple Flower Pendant Thomas Sabo Yellow-enamelled Sneaker Pendant Thomas Sabo Fresh Water Pearl Nugget Stretch Bracelet Tiffany Notes I Love You Charm Necklace Tiffany Cushion Drop Earrings LINK Bracelet With Heart Clasp Return to Tiffany heart tag choker necklace Tiffany Elsa Peretti Mesh Earrings return to tiffany heart tag bracelet

Posted by: katherine k | December 5, 2011 11:13 PM


With a chic and unique design, New Moncler Down Jackets are also a viable option for you gentlemen. You can pair them with Moncler Mens Coats, a coloured scarf and a pair of moccasins that are terrific for a movie night. Moncler Women Jackets have that fluffy feel which transforms them in a highly comfortable Moncler Mens Jackets item. One Moncler Online Store cannot ignore their miraculous property of preserving the heat and bestowing upon the body the type of Discount Moncler Mens that is so indispensable in the http://www.monclermenstore.com/.

Posted by: feg g | November 25, 2011 11:21 PM


With a chic and unique design, New Moncler Down Jackets are also a viable option for you gentlemen. You can pair them with Moncler Mens Coats, a coloured scarf and a pair of moccasins that are terrific for a movie night. Moncler Women Jackets have that fluffy feel which transforms them in a highly comfortable Moncler Mens Jackets item. One Moncler Online Store cannot ignore their miraculous property of preserving the heat and bestowing upon the body the type of Discount Moncler Mens that is so indispensable in the http://www.monclermenstore.com/.

Posted by: feg g | November 25, 2011 11:19 PM


Nike shoes forKobe basketball Shoes basketball have dropped in the past is kobe shoessome pretty amazing models and styles. But, theKobe Shoes 2011 colorways that they have dropped in the past, although amazing, don't compare to kobe vithe colorways the Kobe VI has been dropped in. For the kobe 6last three years, the signature lines of Kobe Bryant shoes have left no colorway behind. Actually I hope they havekobe V left a few behind, I can't wait to kobe 5see the newest Kobe VI colorway.

Posted by: OAKLEY O | November 13, 2011 2:01 AM


Not every flower symbolize for love, cheap northface jackets but rose can do it; not every tree can stand thirst, but alamo can do it, not every pig can read short message, but you can do it. Congratulations!

Posted by: oakle78 o | October 21, 2011 9:27 PM


Classic UGG BootsBut all the data in the world wons constantly a ugg boots ukUGG Boots UK constant alter during the style trends through the entire planet from ugg boots uk sale period to seasonit Police say the customers sometimes received counterfeits ugg classic short ugg boots boots sale but sometime received nothing at all for ugg boots sale uk their moneyUGG London They ugg boots sale uk also come in ugg boots sale various hues just as their boots come in different style from classic to contemporary and hip designsMade from ugg ugg classic shortboots sale uk 100% luxurious Australian Double Faced Sheepskin For women interested in a more fashionable ugg boots sale boot, the Caroline features leather uppers withBuy UGG Boots decorative, ugg boots uk buckled strapping and a 2sicas en los ni?os los tama?os, y Uggs para los beb A few ugg boots uk of the most ugg boots uk common ones are:Make your auto look its original

Posted by: supra s | September 27, 2011 10:52 PM


Basketball is based on the villain Freddy Kruegernike dunksfrom A Nightmare on Elm Street films.nike dunk low The shoe dunk sb on sale has an interesting structure, blood-splatter accents and green / red striped sweater features a reference to Krueger. sb dunksWord has the Nike Dunk SB Horror Pack Freddy Krueger shoes are published in November. nike dunk sbWe also rumors of these shoes will never be released because of trademark infringement nike dunk sband possible prosecutions heard.

Posted by: supra s | September 27, 2011 10:52 PM


If refurbished machines are no above your horizon, and whether you prefer Tods Shoesto mart in the brick and mortar earthTods Mens Shoes because appliances, you do still have adoptions available to you via which you tin save money and get a low appliance. Tods Womens Shoes For example, there are some supernatural stores in action in the brick and mortar world today that attempt for marketing a broad range of appliances - including washing machines - by discounted prices. Tods Shoes Sale Ask these renowned electrical goods retailers for a good package deal whether you are blueprinting to buy several appliances nearby the Tods Shoes Salecleaning machine. You about all acquisition more savings while you combine your family appliances Tods Handbagsthan you buy a washing machine individually.

Posted by: supra s | September 27, 2011 10:52 PM


If refurbished machines are no above your horizon, and whether you prefer Tods Shoesto mart in the brick and mortar earthTods Mens Shoes because appliances, you do still have adoptions available to you via which you tin save money and get a low appliance. Tods Womens Shoes For example, there are some supernatural stores in action in the brick and mortar world today that attempt for marketing a broad range of appliances - including washing machines - by discounted prices. Tods Shoes Sale Ask these renowned electrical goods retailers for a good package deal whether you are blueprinting to buy several appliances nearby the Tods Shoes Salecleaning machine. You about all acquisition more savings while you combine your family appliances Tods Handbagsthan you buy a washing machine individually.

Posted by: supra s | September 27, 2011 10:51 PM


There are 32 different NFLDallas Cowboys Jerseys teams from all over the country. You can choose from teams hailing fromNFL Football Jerseys the National Football Conference or the American Football Conference. Whichever team you like best, there are many advantages to purchasing wholesale NFL jerseys online. Whether you are a small Packers Jerseysbusiness owner looking to make an easy profit by buying NFL jerseys in bulk, or a huge fan wanting to purchase the perfect gift for all of yourChicago Bears Jerseys friends and family, you may have a desire to find wholesale prices on football jerseys. And the best place to find deals Eagles Jerseys in on the internet.

Posted by: supra s | September 27, 2011 10:51 PM


it is a good blog thanss for sharingClay Matthews Jersey Clay Matthews Authentic Jersey Aaron Rodgers Jersey Aaron Rodgers Authentic Jersey Cheap Cowboys Jersey Dallas Cowboys Jersey Demarcus Ware Jersey Demarcus Ware Authentic Jersey Miles Austin Jersey Miles Austin Authentic Jersey

Posted by: birkenstock shoes b | September 19, 2011 2:24 AM


Lee Barney

Lee Barney served as editor of Money Management Executive from 2002 to 2010. Previously, at United Media’s Wall Street & Technology magazine and Risk/Waters Information Services, she covered financial IT. For TheStreet.com, she wrote the daily “Meet the Street” column covering a broad spectrum of market-moving events. Lee began her career as a reporter in Tokyo with The Japan Times and was executive editor of Spotlight magazine.