Confronting the Growing Burden of Fund Proxy Campaigns: Analysis of Recent Fund Campaigns and Policy Solutions
A new ICI survey of 62 member firms, representing roughly $38 trillion (85 percent) of U.S.-registered fund assets, highlights the growing cost of fund proxy campaigns. Between 2020 and 2025, total campaign costs ranged from an estimated $675 million to $1.14 billion, with many individual campaigns costing tens of millions of dollars. These high costs persist even though most proxy votes involve noncontroversial matters that are routinely approved by large margins.
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