Learned: How Funds Vote on Proxy Proposals

Recently, the Investment Company Institute released the broadest study ever conducted on proxy voting by registered investment companies (“Funds”), covering more than 3.5 million proxy votes cast by 160 of the largest fund families. The study focused on Fund voting for management and shareholder proposals at Russell 3000 companies with annual meetings from July 1, 2006 to June 30, 2007, examining the impact on almost 20,000 proposals.