[PDF] American Funds sells PetroChina after shareholder meeting

Author: Investors Against Genocide, Published on: 17 February 2010

Following a well-publicized shareholder vote on genocide-free investing on November 24, American Funds [part of Capital Group] has now become the largest mutual fund company to divest its holdings in PetroChina. A recent posting on the company’s website shows that American Funds sold virtually all their holdings in Petrochina, worth $190 million... Following action by American Funds and TIAA-CREF, investors, concerned about their savings being connected to genocide, now have clear, mainstream choices. The positive actions by American Funds and TIAA-CREF stand in stark contrast to Vanguard, Fidelity, and Franklin Templeton for taking no action and continuing to hold large investments in companies, such as PetroChina, linked to an ongoing genocide.

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Related companies: American Funds (part of Capital Group) Capital Group Franklin Templeton (Franklin Resources) PetroChina (part of China National Petroleum Corporation)