Free Enterprise Action Fund asks financial service companies whether their support for social security reform has been impacted by activist-investor pressure
For more info contact: Steve Milloy, 301-258-2852, steve@feafund.com
Washington DC (August 17, 2005) – Action Fund Management LLC (AFM), the investment adviser to the Free Enterprise Action Fund (www.FreeEnterpriseActionFund.com), asked 25 financial services owned by the Fund to disclose whether their support for social security reform has changed because of pressure from union pension funds and other activist-investor opponents of social security reform.
The Free Enterprise Action Fund (FEAF) is a mutual fund seeking to provide investors with financial returns while persuading companies to focus on increasing shareholder value and profits rather than appeasing outside activists.
AFM asked the financial service companies to disclose whether they:
- Have been pressured to stop supporting social security reform;
- Have been pressured to stop supporting public policy organizations and trade groups that favor/advocate reform;
- Have changed their views and actions because of such pressure;
- Believe reform would benefit the public and their shareholders.
“We think social security reform is good public policy and in the interests of financial service companies. Not supporting reform, particularly because of pressure from a few vocal activists, is bad business and socially irresponsible in our view, said Steve Milloy, of AFM.
The Free Enterprise Action Fund seeks long-term capital appreciation through investment and advocacy that promote the American system of free enterprise.
An investor should consider the fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Free Enterprise Action Fund can be found in the fund's prospectus. To obtain a prospectus, please call 1-800-766-3960 or click here. Please read the prospectus carefully before investing.
Mutual fund investing involves risk, including loss of principal.
The Free Enterprise Action Fund is advised by Action Fund Management, LLC., which receives a fee for its services, and is distributed by BISYS Fund Services, LP, which is not affiliated with Action Fund Management, LLC.
