The U.S. investment company industry, which includes mutual funds, closed-end funds, exchange-traded funds, and unit investment trusts, serves the retirement, education, and other long-term investment objectives of millions of investors. Investment companies also serve the needs of foreign investors.

Mutual funds and other investment companies allow individuals to pool their savings with those of other investors so they may benefit from professional investment management and diversification. These two hallmarks of fund investing-along with the unparalleled level of disclosure and protections provided to fund investors-are the main reasons the U.S. fund industry plays an integral financial management role in American households.

In addition to providing quality, low-cost products and services, the investment company industry also has a long history of serving shareholders responsibly: first, by supporting the strong and effective legislative and regulatory framework so crucial to maintaining investor confidence, and second, by promoting investor awareness of funds and an understanding of the securities markets in which they operate.