Vanguard rejects anti-genocide group
BOSTON — Vanguard Group shareholders on Thursday 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 such as Sudan's Darfur region.
The measure, backed by the group Investors Against Genocide, fell far short of majority support at a fund shareholders meeting that the privately owned company held in Scottsdale, Ariz. The proposal came before shareholders in 21 of Vanguard's 157 mutual funds, but achieved no more than 17 percent support at any fund, and got as little as 7 percent at some funds.
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