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Mutual funds (MFs) have bettered their participation in shareholder resolutions but are still hesitant to take on India Inc.
The percentage of ‘abstain’ votes dipped to 10 per cent for the quarter ended September, from 20 per cent in the third quarter of 2014-15. The percentage of votes against managements, however, was only three per cent for the three-year period.
As for the top 10 fund houses, only 2.6 per cent of their votes went against managements. Five — Aditya Birla Sun Life, ICICI Prudential MF, Kotak MF, Reliance MF and HDFC MF — have cast less than
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