Case Study: Mid-Sized Mutual Fund Company wins shareholder support for controversial proposals with Broadridge

A Proactive Approach to Garnering Shareholder Support for Controversial Issues

Mid-Sized Mutual Fund Company turned to Broadridge when it faced a difficult proxy campaign across 33 money market funds, 98 CUSIPs, and 3.8 million positions. The company needed to win support for trustee elections and three amendments to its Declaration of Trust tied to SEC Rule 2a-7 changes, including two proposals that had historically drawn negative proxy advisory recommendations. Broadridge provided mutual fund proxy guidance, shareholder analysis, and communication strategy support to help shape the campaign.

Broadridge recommended specific wording for the proxy statements, helping the fund explain the amendments more clearly and improve proxy advisor comfort with the proposals. It also segmented shareholders by holdings and delivery preference to reduce mailing costs, using a mix of full mailings, electronic notifications, and notices of internet availability. The result was lower print and postage expense, proxy advisory firms recommended in favor of the contentious proposals, and all four proposals passed.