(Reuters) – Top mutual fund manager Vanguard said on Wednesday that its 13 fund trustee nominees were easily elected at a shareholder meeting. The group, including Vanguard CEO Salim Ramji and three other new trustees, oversees each of its U.S.-domiciled funds. The Pennsylvania-based company did not release details about vote turnout, but said the results […]
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Vanguard says fund board trustees easily elected
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(Reuters) – Top mutual fund manager Vanguard said on Wednesday that its 13 fund trustee nominees were easily elected at a shareholder meeting.
The group, including Vanguard CEO Salim Ramji and three other new trustees, oversees each of its U.S.-domiciled funds. The Pennsylvania-based company did not release details about vote turnout, but said the results included “an overwhelming majority of the voted shares favoring each nominee as trustee.”
Mutual funds stage shareholder meetings only infrequently, in contrast to public U.S. corporations. Vanguard had faced opposition to the nominees from a group of Republican U.S. state treasurers who said the group lacked ideological balance.
(Reporting by Ross Kerber, Editing by Nick Zieminski)