During the 2017 proxy voting season, registered investment companies—including mutual funds, exchange-traded funds (ETFs), and closed-end funds—cast more than 7.6 million votes for proxy proposals submitted by either management or shareholders of corporations held in the funds'...
Any registered fund that holds companies' stocks in its portfolio has a duty to consider proxy proposals offered by those companies—and to act in the best interests of the fund and its shareholders. These funds also have a regulatory obligation to report those votes. As the only...
Consistent 401(k) Participation Leads to Higher Account Balances Washington, DC, November 6, 2018—The average 401(k) plan account balance of “consistent 401(k) participants”—those who remained active in the same 401(k) plans from year-end 2010 through year-end 2016—more than doubled...
Proxy voting is in the news and on the minds of policymakers, corporate executives, and investors. The Securities and Exchange Commission (SEC) will focus on a number of issues related to proxy advisory firms, shareholder proposals, and technology and innovation to make the proxy...
ICI Calls for Saving Fund Shareholders’ Money by Reforming Fees for Distributing Fund Materials Current system stifles competition, resulting in higher costs for fund investors Washington, DC; November 1, 2018—The Investment Company Institute (ICI) called on the Securities and...
ICI has filed a comment letter calling on the Securities and Exchange Commission (SEC) to overhaul the framework for fees that funds are required to pay to vendors when intermediaries such as broker-dealers hire those vendors to distribute legally required reports and disclosures to...
Welcoming Remarks Susan Olson General Counsel Investment Company Institute 2018 Securities Law Developments Conference Washington, DC October 25, 2018 As prepared for delivery. Good morning, everyone! I’m Susan Olson—ICI’s general counsel—and I’m pleased to welcome you to our 2018...
ICI Strongly Supports the SEC’s Efforts to Enhance Fund Disclosure Modern fund disclosure system should provide investors with choice Washington, DC; October 25, 2018—The Investment Company Institute (ICI) supports recent efforts made by the US Securities and Exchange Commission (SEC)...
Fund firms that offer interval funds—a type of closed-end fund that periodically offers to repurchase a portion of its shares—face unique operational challenges. To address these, ICI's Broker-Dealer Advisory Committee recently launched the Working Group on Interval Funds. The working...
Have you ever done one small, smart thing that ended up making a huge difference in your future? I'm not talking about blind luck—like buying a ticket that turns out to be the winner in the (currently) $1.6 billion Mega Millions. No, I'm talking about small, smart decisions that can...
