January 9, 1992
TO: BOARD OF GOVERNORS NO. 1-92
RE: DISCUSSION OF ICI EDUCATION FOUNDATION AT WINTER MEETING
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January 30, the second day of our ICI Board meeting in
Nevis, will open with a discussion of the ICI Education
Foundation. Sue Duncan, vice president of the Foundation, will
summarize why it was formed, describe its target audience--
secondary-school teachers and students--and present the results
of market research conducted among that audience.
Briefly, this research concludes:
1. With more and more states (now 30) mandating economics
instruction in secondary schools, the mutual fund industry faces
an unparalleled opportunity to educate succeeding generations of
mutual fund investors.
2. If we don't educate, our competitors will. Indeed, the
banking, brokerage, and insurance industries are already heavily
involved in secondary-school education.
3. Teachers will need training to present mutual fund
material effectively.
4. Provided training is available, most teachers respond
enthusiastically to the incorporation of sponsored programs or
materials on mutual fund investing.
The Foundation Board proposes to proceed with confidential,
45-minute interviews by outside consultants among key industry
leaders and suppliers, including members of the ICI Board. These
interviews will help determine the nature and extent of support
for a variety of educational initiatives in mutual fund investing
at the secondary-school level.
We will invite your questions, comments, and discussion
following Ms. Duncan's remarks.
Thomas R. Powers
Chairman, ICI Education Foundation