Liberty offering online proxy voting
October 26, 1998
Liberty Funds Distributors is the latest fund company to offer shareholders online proxy information and voting, a service that is saving the funds postage and telephone costs. According to Liberty, a website vote costs 5 cents. By comparison, it costs 32 cents for return postage for a paper proxy vote. Shareholders of Colonial and Newport funds, and the Stein Roe Advisor Tax-Managed Growth Funds, who have proxys to vote on soon, can vote online at the Liberty website at www.libertyfunds.com.
The Vanguard Group was the first major fund company to offer online proxy voting. It did so during its shareholder meetings in May and July. Several other companies have followed Vanguard's lead.