Fidelity holders reject 'genocide-free' proposal
Shareholders at four Fidelity Investments mutual funds have rejected a measure that seeks to screen out investments possibly linked to genocide in international hot spots like Sudan's Darfur region.
The proposal needed a majority to pass. But the most support it received at any of the four funds on Tuesday was nearly 25 percent. The lowest was 18 percent.
Boston-based Fidelity is the largest US mutual fund company with some 460 funds and nearly $1.4 trillion under management. Fidelity opposed the measure, which was backed by the activist group Investors Against Genocide.
In voting last year, the proposal fell short at 14 other Fidelity funds, but received as much as 31 percent support. A similar proposal also was rejected two weeks ago at Vanguard Group.