THE ROLE OF SHAREHOLDERS IN A FUND'S
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Shareholders need not sit idle as their funds operate. Indeed,
they have the opportunity to influence the decisions and leadership of their
funds. Each mutual fund share counts as one vote. The more shares you own, the
more votes you can cast. As noted earlier, the shareholders elect the board of
directors. Among their other responsibilities:
? They vote
on changes in the fund's investment objective(s).
? They vote on or approve restrictions on investments.
? They approve changes in policy.
? They approve the investment advisory agreement.
Shareholder voting affects the investment behavior of the fund
and its managers.
Now, some final words about the necessity of knowing who
runs mutual funds.