Fund companies continued to vote their proxies overwhelmingly in support of management in 2006, supporting 92% of management-sponsored proposals last year but only 37% of shareholder-sponsored proposals, Reuters reports.
This marks a growing trend for fund companies to support management, up from 90% in 2005 and 89% in 2004, according to
Even the fund company that voted the least frequently in favor of management’s proposals,
However, two companies stood out for their support of shareholder-sponsored proposals—