Mutual fund complexes, which own more than 22% of U.S. corporate stocks, are the puppets of corporate bigwigs, and the relationship is harming shareholders, a new study from the Center for Political Accountability (CPA) claims.

According to the Washington lobbyist, 27 of 30 large mutual fund companies voted against political disclosure resolutions, a measure that's also traditionally opposed by corporate boards, for the second consecutive proxy season.

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.