Investment Company Institute (ICI)
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Nobel Prize winner argues markets are efficient
The work that earned Eugene Fama the Nobel Prize in economics provided the intellectual foundation for index-tracking funds, which have upended stock picking as investors have abandoned active money managers.
Investors continue to prefer equity to bond funds, ICI data show
Flows to long-term mutual funds continue to reflect a preference for equities over fixed income, according to estimates from the Investment Company Institute. With continued uncertainty surrounding the expiration date of the Federal Reserve's monetary stimulus program, bond funds experienced
Mutual fund costs for 401(k) plans still dropping
Mutual fund costs continue to tumble for 401(k) plans, thanks in part to plan sponsors' demands for cheaper investment options.
ICI criticizes risk council
The Investment Company Institute, the mutual fund industry's main trade group, last week said that federal regulators exceeded their legal authority in urging the Securities and Exchange Commission to overhaul rules for money market funds.
ICI appoints longtime congressional aide to head political affairs
Shevlin brought on board to help thwart money-market reform; has worked for three Dems in the House
Schapiro stands defiant on money market reform
Securities and Exchange Commission Chairman Mary Schapiro is not backing down from her stance that the money market fund industry needs additional reform.
Three paths to income in retirement
The search for retirement income sources in a low-yield environment has highlighted a trio of possibilities — some counterintuitive.
Fund firms want out of the pool, sue the CFTC
Industry trade group up in arms over amendment to rule that exempted mutual funds from having to register as commodity pool operators
Three clouds on fund investors' horizon
The following is an edited version of remarks made by Investment Company Institute general counsel Karrie McMillan on March 19 at the organization's Mutual Fund and Investment Management Conference in Phoenix.
SEC's Walters: Stop carping
Securities and Exchange Commissioner Elisse Walter would prefer that firms kept their thoughts on money market fund reform out of the public eye.
Fund group warns of $1,000 shares
Investors can say goodbye to $1 shares of money market funds and hello to $100 or even $1,000 shares if the Securities and Exchange Commission requires the funds to float their net asset value, Investment Company Institute general counsel Karrie McMillan said at the ICI conference last week.
Managed futures' performance fees lurk in loophole
Mutual funds aren't allowed to charge hedge-fund-style performance fees, but some managed-futures funds are taking advantage of a loophole.
How about an 'Arab Spring' at the MSRB?
INHERENT CONFLICT NO FIREBRANDS PROPOSALS FOR MSRB With people around the world fighting and dying for the right to vote, it is sad that democratic elections seem increasingly rare in the U.S. securities industry. Specifically, I am referring to the process of electing board members to the
'Superdowngrades' could sink munis
CREDIT QUALITY "TAX-FREE INCOME' A dramatic increase in the number of “superdowngrades” could wallop the municipal bond market this year, muni experts predict. They believe that the number of such double- or triple-tier declines in credit ratings could jump from the typical one or two per year to
For munis, another bright year seen after surprisingly strong 2011
What a difference a year makes. Twelve months ago, banking analyst Meredith Whitney predicted that 2011 would bring “hundreds of billions of dollars” of municipal bond defaults due to intense fiscal stress on states and local governments.
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