The Center for Political Accountability released on December 10, 2012 its annual survey of mutual fund support for corporate political disclosure. The analysis, which is available on CPA’s website, reviewed how 40 of the largest mutual fund families voted on shareholder resolutions that asked for disclosure of political spending based on the CPA model.
The review’s key findings include the following:
- In the 2012 proxy season, 40 of the largest mutual fund families supported, on average, 34 percent of the 29 CPA-model shareholder resolutions for corporate political disclosure. They abstained on 12 percent and opposed 54 percent.
- Average mutual fund support in 2012 decreased slightly from 2011′s record 35 percent average support.
The bulk of the support for such disclosure comes not from typical investors but from Democrat-leaning union pensions, state and local government pensions, and academics. Hmmm....