Pathfinder does not vote proxies on behalf of clients.
Because of our investment philosophy, the proxy questions clients are most likely to face involve mutual funds and exchange-traded funds. When clients ask for general guidance, the principle is straightforward: vote in ways that favor lower costs, fewer conflicts, and better long-term shareholder outcomes.
Typical examples include:
- Advisory contract approval: generally favor arrangements that support lower fees and disciplined investment management
- 12b-1 fee approval: generally oppose 12b-1 fees and proposals that create or preserve them
- Fund merger approval: generally oppose mergers unless there is a clear shareholder benefit such as lower expenses or a stronger structure