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Citigroup may be stopped from transferring at least one of six investment funds to Legg Mason by dissident shareholders.

The asset swap involves Citigroup's asset management arm with Legg Mason's brokerage. The deal is valued at $440bn.

Should the vote go against Citigroup, it will be in the embarrassing position of still having the fund and dissident shareholders on its books.

Hedge funds are allegedly leading the dissent. ISS and Glass Lewis, the main proxy advisors are supporting the swap.

Citgroup needs a two-thirds majority for the swap to go ahead. The vote in the closed-end funds is on Friday.

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