Proxy fights are the newest fund trend with 340 funds already filing for them this year. As "hot" investments slow down, funds are seeking new ways to rake in the money, like putting more into foreign stocks and real estate. But first, they need their shareholders' blessings.
In the past, it was highly unusual to have funds ask their shareholders for permission to move money around. Many shareholders found the process confusing, and the lost time would sometimes end up costing funds alot of money. Those days are long gone now.
reports that other fund companies holding meetings in coming weeks for various issues include OppenheimerFunds Inc.
, Putnam Investments
and the Royce Funds
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