Mutual Fund Proxy Voting Records and Policies
Do you want to know how mutual funds vote their proxies? Mutual funds and other registered management investment companies are required to disclose each year how they vote proxies relating to portfolio securities they hold. Not later than August 31st of each year, a mutual fund must file with the SEC a report known as Form N-PX, containing the fundís complete proxy voting record for the most recent 12-month period ended June 30th. Funds were required to file their first Form N-PX not later than August 31, 2004.
Where can I find proxy voting record information?A mutual fundís proxy voting record is available from the fund and on the SECís website. A mutual fund must make the information disclosed in its most recently filed Form N-PX available to shareholders either on the fundís website or upon request by calling a specified toll-free (or collect) telephone number. Many mutual funds make this information available on their websites. If a mutual fund makes its proxy voting record available to shareholders upon request, the fund must send the information to shareholders, without charge, within three business days of receipt of a request. You can find out how a mutual fund provides its proxy voting record to shareholders by reading its annual or semi-annual report to shareholders, or its statement of additional information, which is part of its registration statement.
Because a fundís Form N-PX filing with the SEC is publicly available, you can find proxy voting record information for a mutual fund by searching the SECís EDGAR database. You can also find a mutual fundís semi-annual and annual reports to shareholders, registration statement, and other SEC filings by searching the database.
What information must be disclosed?A mutual fund must disclose the following information on Form N-PX for each matter relating to a portfolio security considered at a shareholder meeting and on which the fund is entitled to vote:
How can I find out more about a fundís proxy voting policies and procedures?
Mutual funds and other registered management investment companies that invest in voting securities are required to disclose the policies and procedures that they use to determine how to vote proxies relating to securities held in their portfolios. You can review a description of a mutual fund's proxy voting policies and procedures in its statement of additional information. Also, some mutual funds provide this information on their websites.
You can also request a description of a mutual fundís proxy voting policies and procedures directly from the fund by calling a toll-free (or collect) telephone number listed in its semi-annual and annual reports to shareholders. The fund must then send you the information, without charge, within three business days of receipt of your request.
A mutual fundís statement of additional information, semi-annual and annual reports to shareholders, and other filings are available on the SECís EDGAR database.