Vanguard shareholders reject proposal for stricter screening of investments that may be linked to genocide

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Article
5 July 2009

‘Genocide-free’ proposal rejected at Vanguard

Author: Associated Press

Vanguard Group shareholders last week rejected an activist proposal that would have required the mutual fund company to adopt stricter screening of investments that may be linked to genocide in international hot spots like Sudan’s Darfur region...Vanguard...urged shareholders to reject the measure, saying it recently adopted its own similar policy. [also refers to American Funds (part of Capital Group), Fidelity, PetroChina (part of CNPC)]

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Article
2 July 2009

Vanguard Shareholders Vote on Genocide-Free Investing Proposal; Voters Misled by Vanguard's Statement Of Opposition, says IAG's Cohen

Author: Investors Against Genocide

“Favorable votes [for a genocide-free investing proposal] at Vanguard’s meeting today were unnaturally low because Vanguard’s active opposition and misleading statement of opposition tilted the vote against the proposal,” said Eric Cohen, Chairperson of Investors Against Genocide…In Vanguard’s proxy materials, the company asked its shareholders to vote against the proposal because it calls for procedures that “duplicate” existing practices and is “substantially identical” to existing procedures of the Vanguard funds. However, Vanguard has not released the text of a Board policy, beyond the statement of opposition, that details how Vanguard will avoid holdings that are tied to genocide or crimes against humanity.[also refers to Fidelity, American Funds (part of Capital Group), PetroChina (part of CNPC), Petronas, ONGC, Sinope]

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