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Growth in IRAs and defined-contribution retirement accounts, including 401(k)s, fueled a $1.1 trillion increase in retirement assets in 2007, according to data released in the 2008 Investment Company Fact Book. The annual volume reports on a wide range of data on the funds industry, including characteristics of mutual fund-owning households and rapid growth in lifecycle and lifestyle funds. The nation's 401(k) system has become the "dominant private-sector device for retirement savings," and its success will continue if regulators, employers, and the financial services industry work together to encourage more plans and greater worker participation, ICI President and CEO Paul Stevens told attendees at the Institute's 50th Annual General Membership Meeting. Edward C. Bernard, Chairman of T. Rowe Price Mutual Funds and Chairman of the 50th Annual General Membership Meeting, urges the fund industry to build upon its foundations as it looks to the future. Three key foundations, he says, are "our fiduciary culture; our embrace of regulation, and our laser-sharp focus on serving investors." ICI President and CEO Paul Schott Stevens describes SEC Commissioner Paul Atkins as "a strong and independent voice, urging policies that reflect his powerful intellect, strong principles, extensive experience, and diligent consideration," in a statement following the announcement Atkins will step down from the Commission when his current term expires. Employer-sponsored retirement plans are increasingly the gateway to mutual fund ownership, according to ICI's latest report on fund investors. Saving for retirement is crucial to fund investors: Nine out of 10 say retirement saving is one of their financial goals, and nearly three-quarters of households list it as their primary financial goal. ICI's request would permit closed-end funds to issue debt to replace their auction market preferred stock subject to a lower asset coverage requirement than is currently permitted by the Investment Company Act. ICI's 50th Annual General Membership Meeting will blend innovative and thought-provoking ideas on business, the financial markets, and politics with an appreciation of the rich history of the mutual fund industry. Prominent industry leaders past and present will be on hand to trace the evolution of the industry and share their views about its future. Other recent developments 
This brochure outlines the options available for investing in 529 savings plans. This brochure discusses how UITs operate, and provides a general overview of the different types of UITs. This brochure reviews the types of closed-end funds and their operations. This brochure summarizes exchange-traded funds (ETFs) and explains how they differ from index mutual funds. More about investing
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In light of recent credit market conditions, ICI has provided detailed background information on municipal bonds that includes a discussion of credit ratings, bond insurance, and monoline insurers. ICI's comprehensive look at closed-end funds includes a discussion of the auction rate preferred securities issued by closed-end funds, the causes and implications of a failed auction, and the responsibilities of a closed-end fund in the event of a failed auction. ICI's updated background information on money market funds takes a closer look at the credit enhancements, such as bond insurance, that securities issuers employ to maintain a security's eligibility to be held in a money market fund. The Institute has updated its background information on bond funds with 2007 data. More questions and answers 
ICI takes an in-depth look at mutual fund investors in this new research, which shows that fund investors are in their peak earnings and savings years; are employed and have moderate household incomes; frequently own equity funds; and focus on retirement savings. Mutual fund shareholders are confident that investing in funds will help them reach their financial goals, according to an ICI survey of fund-owning households. These shareholders tend to be middle-aged, employed, educated, and married or living with a partner; have financial assets of $175,000, over half of which is invested in mutual funds; and own four mutual funds, including one equity fund, both inside and outside employer-sponsored retirement plans. More ICI research 
The combined assets of the nation's mutual funds decreased by $24.1 billion, or 0.2 percent, to $11.734 trillion in March, according to the Investment Company Institute's official survey of the mutual fund industry. The combined assets of the nation's exchange-traded funds (ETFs) were $571.11 billion in March, according to ICI. Total money market mutual fund assets increased by $54.01 billion to $3.472 trillion for the week ended Wednesday, May 7, the Investment Company Institute reported. More ICI statistics 
ICI President and CEO Paul Schott Stevens reiterated the Institute's strong support for disclosure rules that will help assure that 401(k) plan fiduciaries have all the information they need to make the decisions entrusted to them under ERISA. ICI President and CEO Paul Schott Stevens focused on the SEC's "momentous" Summary Prospectus proposal in his remarks at an industry conference. "The Commission has seized upon the potential of the Internet in re-conceiving its approach to mutual fund disclosure," said Stevens. "Our own extensive research and the SEC's ... strongly suggest that this is the right approach." More ICI viewpoints
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