The advent of mutual fund proxy voting disclosure has brought executive compensation abuse under greater scrutiny and further emboldened the nation's largest labor union to take aim at the biggest names in the asset management business.

The AFL-CIO recently issued a report card evaluating how the 10 largest mutual fund families voted on shareholder proposals, calling for the trimming of excessive CEO pay packages. The report ranks each fund complex according to how often fund management voted against the shareholders of a cross-section of 12 S&P 500 companies the AFL-CIO deemed to have "clearly excessive CEO pay" and "poor performance."

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