Proxy Voting Content

Mutual funds and ETFs are essential to how millions of Americans build long-term financial security supporting retirement, education, and other life goals. Yet investors ultimately bear the costs of an outdated fund proxy system that no longer reflects modern ownership or communication practices.

For millions of Americans, mutual funds and ETFs are the foundation of long-term financial security. They help families save for retirement, education, homeownership, and other major goals. But behind...

An op-ed by ICI General Counsel Paul Cellupica published in the Financial Times explains how an outdated voting framework is imposing significant costs on funds and investors, while proposing practical reforms to modernize the system and maintain strong shareholder oversight.

A new ICI survey of 62 member firms, representing roughly $38 trillion (85 percent) of U.S.-registered fund assets, highlights the growing cost of fund proxy campaigns.

New analysis of recent survey results from ICI finds that the US fund proxy system is increasingly inefficient, expensive, and ineffective. The growing costs involved are imposed on fund shareholders, and the Securities and Exchange Commission should reform this system.

ICI issued a statement in response to President Trump’s executive order on proxy advisors.