Byline: PETER J. HOWE Boston Globe
Taking an unusual public stand, Fidelity Investments chairman Edward C. Johnson III has joined with his counterpart at rival mutual fund giant Vanguard Group to oppose a U.S. Securities and Exchange Commission proposal that would make mutual funds disclose how they vote on corporate shareholder ballot questions.
In addition to creating a huge paperwork burden, Johnson said the measure could expose Boston-based Fidelity and its portfolio managers to political campaigns aimed at lobbying them to vote certain ways on proxy questions affecting companies in which Fidelity funds own stock. Those could distract them from maximizing …
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