David F. Swensen is the chief investment officer of Yale University and a noted author of investment advice for the public. In books and articles over the last decade, he’s focused much of his attention on mutual funds. Yet he consistently ignores or is unaware of basic facts about...
Last month, the United States Court of Appeals for the District of Columbia Circuit vacated the Securities and Exchange Commission’s rule on proxy access. The unanimous ruling marked the fifth time since 2005 that the DC Circuit has struck down an SEC rule, and the third decision...
ICI Study: Continued Commitment to Saving Evident in Nearly 24 Million Defined Contribution Plan Accounts Washington, DC, August 8, 2011 - ICI’s latest quarterly study based on defined contribution (DC) plan recordkeeper data from nearly 24 million DC plan participant accounts shows...
Message from IDC Chair Dorothy Berry on Court’s Decision to Strike Down SEC’s Proxy Access Rule On July 22, the United States Court of Appeals for the District of Columbia Circuit vacated the proxy access rule adopted by the Securities and Exchange Commission (SEC) last year. The...
Statement from ICI on Standard & Poor’s Announcement Washington, DC, August 7, 2011 – ICI President and CEO Paul Schott Stevens made the following statement on Standard & Poor’s August 5 announcement: "ICI continues to monitor the situation since the Standard & Poor’s August 5...
On Friday, August 5, Standard & Poor’s Corp. downgraded the long-term sovereign credit rating on the United States of America to AA+ from AAA. The agency reaffirmed the U.S. government’s A-1+ short-term rating, which is the rating that money market funds rely upon in making their...
Despite widespread opposition from dozens of business, municipal, and investors groups, regulators continue to ponder the question of whether money market funds should be required to abandon the stable $1.00 net asset value (NAV) in favor of a floating NAV.
Data on money market funds flows continue to draw attention, especially with today’s report that net outflows totaled $66 billion in the week ending August 3.
DC High School Students and Schools Win ICI Education Foundation Awards in 2011 National Financial Challenge Washington, DC, August 2, 2011 - The Investment Company Institute Education Foundation (ICIEF) today announced that five Washington, DC high school students and three high...
ICI Statement on Enactment of Debt Ceiling and Deficit Reduction Legislation Washington, DC, August 2, 2011 - ICI President and CEO Paul Schott Stevens made the following statement upon enactment of legislation that prevents the U.S. from exceeding its debt limit and establishes a...
