Mutual fund companies are key enablers in the runaway compensation packages that corporate executive enjoy, according to a new study.

Released yesterday by the American Federation of State, County and Municipal Employees and the Corporate Library - two groups that have been longtime critics of executive compensation - the study analyzed the voting records of 18 of the nation's largest fund complexes. It found that most fund firms voted in favor of management proposals and against those from shareholders at the annual meetings of companies in which they hold stock.

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