The US Chamber of Commerce wants to curb the influence of proxy advisors, but mutual fund shops don't neccesarily agree, according to a Reuters report.

The Investment Company Institute has declined to say so far whether or not they agree with the Chamber's proposal.

"As with many issues where our members' interests overlap, we have appreciated the collaborative dialogue with the Chamber regarding proxy advisors," spokesman Mike McNamee stated, according to Reuters.

Three anonymous fundster executives, all from different shops, told reporter Ross Kerber that mutual fund companies were unlikely to support the Chamber's proposals.

For more details, check out the original article here. 

Edited by: Ben Geier


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE