Investment Company Institute
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| Investment Company Institute | |
| Founded | 1961 |
|---|---|
| Headquarters | Washington, DC, USA |
| Products | |
| Web site | www.ici.org |
The Investment Company Institute [1] is the national association of U.S. investment companies, including mutual funds, closed-end funds, exchange-traded funds and unit investment trusts. The Investment Company Institute Education Foundation is a member of the Alliance for Investor Education. [2]
Contents |
History
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The Institute was established in 1940 in New York as the National Committee of Investment Companies. It became the National Association of Investment Companies in 1941. In 1940, Institute members included 68 mutual funds and 43 closed-end funds, and assets for the fund industry totaled $2.1 billion. The NAIC instituted its first public information program in 1943, began collecting industry statistics a year later, and held its first General Membership Meeting in 1959. NAIC changed its name to the Investment Company Institute in 1961, the year that underwriters and advisers of mutual funds became eligible for membership. That was also the year the first Fact Book was published. Unit investment trusts were welcomed as Institute members in 1985.
Membership
Key People
The Institute's chairman is John V. Murphy, chairman and ceo of Oppenheimer Funds, Inc. Martin L. Flanagan, president and ceo of INVESCO PLC serves as the Institute's vice chairman.
