• See below for highlights of the history of the campaign for genocide-free investing
  • Click here to learn more about genocide-free investing
  • Click here to learn about shareholder proposals and how you can easily join the campaign
  • Click here to see the full list of mutual funds with pending proposals on genocide-free investing

Congressional Human Rights Caucus briefing on genocide-free investing - September 10, 2008

  • The Congressional Human Rights Caucus held a Members' Briefing on September 10, 2008, on genocide-free investing.  The Caucus's invitation to the briefing noted the need for socially responsible investment strategies and oversight mechanisms to ensure that American investments do not inadvertently help finance genocidal regimes around the world.  The briefing was chaired by US Representative James McGovern.
  • Read about the briefing
    • Opening statement from US Representative James McGovern
    • Statement presented by Eric Cohen, Chairperson, Investors Against Genocide
    • Statement presented by Adam Kanzer, Managing Director and General Counsel, Domini Social Investments
    • Statement presented by John Norris, Executive Director of the Enough Project
    • Statement submitted by Ben Collins, Sudan Research Analyst, KLD Research & Analytics
    • Press release from Investors Against Genocide about the briefing.

TIAA-CREF stalled voting on genocide-free investing until 2009 - July 2008

  • TIAA-CREF did not include the genocide-free shareholder proposal for voting at its annual meeting on July 15, 2008, ignoring the groundswell of support from TIAA-CREF customers.    Read more about TIAA-CREF  here.
  • Click here to read op-ed in The Chronicle for Higher Education from May 16, 2008.
  • Click here to read TIAA-CREF's response from June 4, 2008.
  • Click here for Eric Cohen's statement from the July 15 shareholder meeting.

Fidelity halted voting on genocide-free investing on June 18, 2008

  • Seven funds had opportunities to vote on June 18, but did not achieve quorum.  Fidelity then halted voting.
    - Blue Chip Growth - no vote recorded on 3/19, 5/14, and 6/18/2008
    - Capital Appreciation - no vote recorded on 3/19, 5/14, and 6/18/2008
    - Contrafund - no vote recorded on 3/19, 5/14, and 6/18/2008
    - Diversified International - no vote recorded on 3/19, 5/14, and 6/18/2008
    - Dividend Growth - no vote recorded on 3/19, 5/14, and 6/18/2008
    - Growth and Income - no vote recorded on 3/19, 5/14, and 6/18/2008
    - Low Priced Stock - no vote recorded on 3/19, 5/14, and 6/18/2008
  • Read the IAG press release on Fidelity halting the voting.
  • Fidelity rejected genocide-free investing, insisting on their flexibility to invest in genocide.

Fidelity voting results on genocide-free investing - Spring 2008

  • Shareholders at 21 Fidelity funds had opportunities to vote on genocide-free investing, in March, April, May, and June of 2008.  
  • IAG presented the genocide-free investing shareholder proposal at each of the four Fidelity shareholder meetings, on behalf of the fund shareholders who volunteered to submit it.
    - Click here for Eric Cohen's statement from the June 18 shareholder meeting
    - Click here for Eric Cohen's statement from May 14 shareholder meeting
    - Click here for Eric Cohen's statement from April 16 and here for the press conference
    - Click here for Eric Cohen's statement from March 19 and here for the press conference and press coverage
  • Fourteen Fidelity funds recorded votes, showing unusually strong support for the shareholder proposal
    - Blue Chip Value - 31.441% on May 14
    - Canada - 23.721%on April 16, 2008
    - Capital & Income - 26.906% on March 19, 2008
    - Equity Income - 19.502% on May 14, 2008
    - International Discovery - 21.306% on April 16, 2008
    - Mid-Cap Stock - 25.511% on April 16, 2008
    - Overseas - 22.075% on April 16, 2008
    - Puritan - 27.855% on May 14, 2008
    - Growth Company - 27% on June 18, 2008
    - Magellan - 28% on June 18, 2008
    - Real Estate Investment Portfolio - 25.666% on May 14, 2008
    - Select Health Care Portfolio - 29.066% on March 19, 2008
    - Utilities - 27.142% on May 14, 2008
    - Value - 26.226% on May 14, 2008

Fidelity puts genocide-free investing on proxy ballots - Spring 2008

  • With the March 19, 2008, shareholder meeting less than three weeks away, Fidelity filed the formal proxy materials with the SEC for the unprecedented shareholder vote on genocide-free investing proposal. 
      1. Proposal 3 was summarized on the proxy ballot as:
        Shareholder proposal concerning  board oversight procedures to screen out investments in companies that substantially contribute to genocide
      2. Fidelity's proxy says that their "Board of Trustees recommends that you vote "AGAINST" this proposal."
      3. Fidelity's proxy says that the "shareholder proposal that would require the Board of Trustees to 'institute oversight procedures to screen out investments in companies that, in the judgment of the Board, substantially contribute to genocide, patterns of extraordinary and egregious violations of human rights, or crimes against humanity.' "
      4. Click here to read the press release from Investors Against Genocide (3/3/2008).
  • Click here to read the SEC filing putting the first 8 funds on the proxy ballot for March 19 (2/29/08 filing).  Formatted copy here.
  • Click here to read the supplemental SEC filing putting 4 more funds from March 19 on the proxy ballot for May 14  (3/28/08 filing).
  • Click here to read the SEC filing putting 5 funds on the proxy ballot for April16 (3/5/08 filing).
  • Click here  to read the SEC filing putting 4 funds on the proxy ballot for May 14 (3/18/08 filing)

Fidelity challenges and loses in SEC decision - January 2008


As of January, the first batch of shareholder proposals for genocide-free investing had been filed with 28 of Fidelity’s mutual funds and with dozens of other funds from Barclays, Franklin Templeton, T. Rowe Price, and Vanguard. The proposal requests that the mutual fund’s “Board institute oversight procedures to screen out investments in companies that, in the judgment of the Board, substantially contribute to genocide, patterns of extraordinary and egregious violations of human rights, or crimes against humanity.”
  • For the first time, mutual fund shareholders will have a voice in whether their savings are invested in genocide. With the Darfur genocide about to begin its sixth year, many mainstream mutual fund companies are still investing in genocide. We believe that ordinary investors, once they learn the facts, will support genocide-free investing. Now that the SEC has cleared the way, we will work to ensure that our genocide-free investing proposal is considered by shareholders of many more mutual funds.
    - Eric Cohen, chairperson, Investors Against Genocide
  • This shareholder action focusing on mutual fund ownership of stocks in companies involved in the Sudan is unprecedented. Never before has the mutual fund industry been challenged through shareholder resolutions to dozens of mutual fund companies on any issue...This opens up a new chapter in mutual fund governance.
    - Timothy Smith, Senior Vice President, Walden Asset Management
Fidelity had sought to exclude the proposal on technical grounds, but the SEC rejected those claims.
  • Click here to read the SEC decision rebuffing Fidelity's challenge (1/22/2008).
  • Click here to read the press release and here for the AP story and here for Reuters (1/24/2008).
  • Click here to read the SEC filing by Fidelity asking the SEC to agree to block the proposal (11/2/2007). 
  • Click here to see the one page shareholder proposal, as filed with Fidelity and the SEC.
  • You can find this page at the SEC by clicking above to read Fidelity's SEC filing and scrolling to page 10.
  • Note that this image shows the initial version of the proposal.  Supporters of genocide-free investing should use the latest version.