It's been three years since the Securities and Exchange Commission began requiring funds to annually disclose their proxy voting records. When the measure was passed, many dismissed it as a mere administrative nuisance, reasoning that even if investors eventually began to pour through funds' voting records, the day when they would be able to systematically make sense of the information, let alone actually be interested in it, was a long way off.

Since then, investors have become increasingly aware of the fact that mutual funds own 25% of all of the publicly traded stock in this country worth $9.5 trillion.

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