Teachers' Pension Fund to Disclose Proxy Votes

The California State Teachers' Retirement System pension fund will publish its votes on corporate issues for stocks it owns and lobby for regulators to impose such disclosure requirements on mutual funds, state Treasurer Phil Angelides said Wednesday.

Federal regulators have proposed that mutual funds should reveal their votes, a move proponents say would stop funds from courting management at other shareholders' expense.

"Investors have a right to know whether a mutual fund votes in the interest of investors ... or in lock-step with corporate management whose lucrative 401(k) and pension fund business they desire," Angelides said.

The California teachers' board, of which Angelides is a member, voted to publish its proxy policies and votes on its Web site. Previously, it had furnished information on its votes on request.