MMA Praxis Votes for Social Responsibility
MMA Praxis ranks 6th out of 95 leading mutual fund families in supporting corporate social responsibility (CSR), based on share-voting results from 2006 compiled by FundVotes.com. It is the top-rated religious mutual fund.
The rankings are based on the percentage of CSR shareholder resolutions supported by each mutual fund. The number of resolutions voted on by each mutual fund is determined by its particular stock holdings. MMA Praxis voted in favor of 49 out of the 52 CSR resolutions on its ballots, or 94%. MMA Praxis also ranks high in supporting corporate governance resolutions, favoring them 76% of the time.
CSR resolutions include a wide range of issues such as global warming, sustainability reporting, human rights, and labor standards. Corporate governance resolutions cover topics including executive compensation, board diversity, and auditor independence. Shareholder resolutions are put to a vote during each company’s annual meeting.
Each resolution is examined individually and a vote determination is made based on its merit, relative to MMA’s stewardship investing philosophy. MMA Praxis collaborates with Institutional Shareholder Services (ISS), a proxy voting and advisory firm, to establish voting policies tailored to MMA’s unique stewardship investing principles. ISS then votes MMA Praxis’ ballots in accordance with these policies. Difficult-to-judge resolutions are sent to MMA for review.
