The time has come for mutual funds and other institutional investors to vote their proxies in favor of individual investors and truly exert their fiduciary duty, John Bogle, founder and former chief executive officer of Vanguard, writes in a Wall Street Journal editorial titled, “Restoring Faith in Financial Markets.”

Bogle notes that institutional investors control nearly 70% of the outstanding stocks in the U.S., with mutual funds owning 26%, followed by private pension plans (11%) and government pensions (9%).

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