Mutual Fund Giants Vote to Keep Insiders In

Are Fidelity Investments and the Vanguard Group, two of the nation’s largest mutual fund companies, the skunks at the proxy access party?

That’s the question some investors are asking as they tally up the votes cast at this spring’s annual corporate meetings. On one important shareholder rights issue — the ability of stockholders to nominate corporate directors and challenge entrenched boards — Vanguard and Fidelity appear to be standing against investors who want to bring much-needed fresh air to the stale director selection process.