Investment Company Institute

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Investment Company Institute (ICI)

A national industry group of investment companies, including mutual funds, founded in 1940.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Investment Company Institute

An association for mutual funds in the United States. Membership is limited to open-end investment companies, closed-end investment companies, unit investment trusts, exchange-traded funds, and individuals associated with them. Its goals are to establish and enforce ethical practices among members, to lobby policymakers on behalf of the industry, and to educate the public about mutual funds and other investment companies. It was established in 1940.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Investment Company Institute (ICI)

A national association for mutual funds, closed-end investment companies, and unit investment trusts. ICI, established in 1940, collects and publishes industry data, represents its members in matters of regulation and taxation, and promotes the interests of the industry and its shareholders.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Investment Company Institute (ICI).

The Investment Company Institute is an association of US mutual fund companies.

ICI membership is open to all US open- and closed-end investment companies, as well as their investment advisers and underwriters. Each year, ICI publishes the Fact Book, a comprehensive review of the mutual fund industry.

ICI's goals are to maintain ethical standards in the fund industry, advance the interests of funds and their shareholders, and educate the public about mutual funds and other investment companies.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
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Coalition members include the American Bankers Association, American Benefits Council, American Council of Life Insurers, American Society of Pension Professionals & Actuaries (ASPPA), Financial Executives International Committee on Benefits Finance, Financial Services Institute, Financial Services Roundtable, Insured Retirement Institute, Investment Company Institute, Plan Sponsor Council of America, Securities Industry and Financial Markets Association, Small Business Council of America, The ERISA Industry Committee, The SPARK Institute and the U.S.
The Investment Company Institute, a trade group for mutual funds, applauded House passage of the resolutions and urged the Senate "to follow suit, to ensure that these untested retirement programs are required to follow the same consumer protections that have governed employer-sponsored plans for the past 40 years."
The American Benefits Council (ABC) -- a group of large plan sponsors -- and the Investment Company Institute (ICI) -- a trade association for mutual funds -- provided the Department of Labor (DoL) with "a tool to assist fiduciaries of defined contribution plans with the selection and monitoring of target-date funds." The ABC and ICI describe the tool as "a list of potential items for fiduciaries to consider when selecting and monitoring TDFs."
Jon Fossel, chairman of the Washington-based Investment Company Institute, says that two-thirds of Americans will have to reduce their standard of living significantly when they retire.
The Investment Company Institute was less complimentary, with ICI President and CEO Paul Schott Stevens releasing a statement noting that "this is a tough set of new rules that will spur a number of operational changes across the registered fund industry," and will "likely add complexity and cost."
In testimony before the Department of Labor (DoL) Advisory Council in 2007, the Investment Company Institute (ICI) described several options that plan sponsors have for reducing the costs and fees (the ICI is the organization that represents the interests of mutual fund managers):
With so little time, you may want a conservative fund that will deliver steady performance over the next four years, says Betty Hart, director of public information services for the Washington D.C.-based Investment Company Institute, a national association representing mutual funds.
The Investment Company Institute, a trade group for the fund industry, is urging Gov.
During 1991, total sales of mutual funds were $234.5 billion, whereas the previous year, total sales were $149.5 billion, according to the most current figures available from the Investment Company Institute in Washington, D.C., which has 3,200 member firms.
During remarks at the Investment Company Institute annual conference in Washington Friday, White said that while the agency has already taken "significant steps to modernize our registered fund disclosure regime, including adopting the summary prospectus to better focus mutual fund investors on the fees and risks of a fund," more is needed.
A report from the Investment Company Institute (ICI) with data on almost 24 million defined contribution (DC) retirement accounts shows that, in the first half of 2010, DC plan participants' loan and withdrawal activity rose slightly compared with the same time period a year earlier.
The industry trade group, Investment Company Institute (202-293-7700), publishes an annual directory listing more than 3,000 mutual funds, including addresses, telephone numbers, assets, minimum investments and sales charge.

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