Although mutual funds own 25% of the stocks in the nation and could initiate corporate reform through their proxies, they overwhelmingly support management, The Wall Street Journal reports.

A Corporate Library review of how 38 leading mutual fund companies, excluding socially responsible investing funds, voted their proxies in the 12 months ended June 30, 2005, found that they supported fund management 92% of the time. They voted for shareholder resolutions only 30% of the time.

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.