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Rating:ING Votes Against Sudan-Related Holdings Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 23, 2012

ING Votes Against Sudan-Related Holdings

News summary by MFWire's editors

A win for human rights activists was achieved when ING [profile] mutual fund shareholders voted against Sudan-related holdings.

The Chicago Tribune reported that 59 percent of the ING Emerging Countries Fund backed the non-binding resolution to say no to Sudan-related holdings, and 11 percent of the investors opposed.

The fund's board did not take a position on the resolution, which is a fresh move since fund managers usually oppose similar resolutions.

Eric Cohen, chair of resolution sponsor Investors Against Genocide, said that the measure to get the majority was ING's neutrality. He said:

"We're very excited and feel the results of this vote really validates what we've been saying all along. The shareholders really want this, that's why the funds ought to be paying attention."

Cohen, via email, told the paper:

"Once the board of the newly merged funds meet, we hope that board members will decide to respond to the clear wishes of the fund shareholders and announce a policy to avoid investments with ties to genocide."  

Edited by: HFD

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