The Nathan Cummings Foundation just released the Proxy Access Scorecard, an analysis of how mutual funds voted on the key issue of “proxy access,” which would allow shareholders to nominate candidates for corporate boards of directors, at the annual meetings of 84 corporations in 2015. The Scorecard, compiled with data drawn from Fund Votes and analysis done by the 50/50 Climate Project, exposes a deep division in the mutual fund industry’s approach to proxy access. If you’re interested in taking a look, the full report can be accessed, here.
As the Scorecard demonstrates, some mutual funds supported proxy access shareholder proposals over 90% of the time. However, others had very support little or failed to support any proxy access proposals. If these funds had voted for proxy access, the proposal would have likely passed at 17 additional companies.