Investment Company Institute
From Wikipedia, the free encyclopedia
The Investment Company Institute (ICI) is an American investment company trade organization. Its membership as of April 1, 2006 included 8,606 mutual funds, 653 closed-end funds, 160 exchange-traded funds, and five sponsors of unit investment trusts.
In the wake of stock market scandals in the 1920s and 1930s, ICI was established in 1940 in New York as the National Committee of Investment Companies. They became the National Association of Investment Companies (NAIC) in 1941. NAIC changed its name to the Investment Company Institute in 1961.
Membership in ICI is available to any SEC-registered investment company (open-end or closed-end), its investment adviser, and its underwriter. The group is involved in extensive lobbying on behalf of its members.
