| 14 July 2009

All votes must be case by tomorrow’s annual meeting in order to count. If you’re not up to speed on the issue, most large mutual fund companies invest to some extent in businesses that operate in Sudan’s Darfur region. Investors Against Genocide is (IAG) leading the get-out-the vote effort which failed earlier this month at Vanguard’s annual meeting.

It appears IAG is primarily concerned about Fidelity’s investments in PetroChina, which amounts to about $1.3 billion in holdings. But other companies mentioned with Fidelity ties include Sinopec, ONGC and Petronas.

While Fidelity claims to have reduced its investments dramatically in each of these companies, that is not enough, say IAG leaders.

According to an article in The Boston Herald, most of the money originates from 401(k) programs and other retirement accounts and the investors are often unaware that their funds are being invested in these companies. The Board of Directors at Fidelity is recommending that shareholders vote against the proposal, claiming none of the investments violate U.S. law.