Proxy win fires up activists: they want further mutual fund reform.

Investment News, February, 2003 by Hansard, Sara

Emboldened by a victory over mutual fund disclosure of proxy votes, activists now are turning up the heat for further mutual fund reform.

Their wish list includes computing trading costs as part of expense ratios and shareholder nomination of mutual fund directors.

The Securities and Exchange Commission last month announced it would require mutual funds to disclose how they voted the proxies of the companies whose shares they own, a move many think will improve corporate governance.

Energized by that successful effort, fund shareholder activist Mercer Bullard says he will push for improving mutual expense disclosures, and labor unions are looking for ways in which company shareholders can nominate directors.

In addition,...