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Putting Politics Over Pensions: The 2024 Committee to Unleash Prosperity Report Card on Investment Fund Managers and Proxy Voting Behavior

Over the past year, investment management companies have faced unprecedented scrutiny regarding their support for left- leaning shareholder proposals focused on environmental, social, and governance objectives – better known as “ESG.” These investment firms – with more than $20 trillion of assets under management and nearly 75 percent of the publicly traded stocks – are also pressured into supporting shareholder resolutions related to race, sex, and ethnicity under the guise of promoting diversity, equity, and inclusion (DEI). Many of these resolutions would, if approved, reduce the profitability of the targeted companies. As such, a vote for these resolutions is in direct conflict with the fiduciary obligation these firms have to their clients.

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