Mutual fund firms should take voting on social issues at the companies they invest in seriously, says the Responsible Investment Association.
RIA studied how mutual fund companies are exercising their proxy votes when it comes to management changes or resolutions involving environmental, social or governmental causes.
It found funds that suscribed to social goals were more likely to challenge management and shareholder resolutions than non-social funds. That said, even those supported some social resolutions, finds the study.
There are more than 115 fund companies offering nearly 3,000 funds in Canada, RIA says. Together, they control more than $1 trillion in assets.
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