Although they may have lost their battle to get Fidelity Investments to drop mutual funds that are linked to genocide in Sudan, activists say they are emboldened that more than one out of four shareholders voted in favor of their proposal.

The activists with Investors Against Genocide saw small victories by winning 28% support at Fidelity’s Select Health Care Portfolio and 27% at the Capital and Income Fund, and were also happy that Fidelity was not able to block their proposal from the ballots.

The group plans to keep pressing for votes at other Fidelity Funds, as well as funds at Vanguard, American Funds, Barclays and Franklin Templeton.

The nonbinding measure asks that fund boards tell individual fund managers to avoid investments that are tied to human rights violations and genocide.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.