dcsimg

ICI Global Publications & Resources Frequently Asked Questions

Print this page

Frequently Asked Questions About ICI Global

What is ICI Global?

ICI Global is a trade organization focused on regulatory, market, and other issues for global investment funds and their managers and investors.ICI Global members include regulated funds publicly offered to investors in jurisdictions worldwide, making it the first industry body exclusively advancing the perspective of globally active funds. ICI Global was founded in fall 2011 and is based in London.

What is ICI Global's mission?

ICI Global seeks to advance the common interests and promote public understanding of global investment funds, their managers, and investors.

What is ICI Global’s unique role?

International regulatory organizations increasingly influence global fund and capital markets policy, and fund activities are increasingly global in terms of investments, business strategies, and regulatory concerns. Yet no current fund association exclusively focuses on the perspective of globally active funds. Global investment funds need a strong and informed resource on issues that cross borders. ICI Global offers full, strong support via unbiased research, policy analysis, operations, issues development and public communications.

How do ICI and ICI Global work together?

ICI Global’s senior-level team in London leverages and builds on ICI’s broad policy and research expertise. As an engaged and respected participant in the global dialogue, ICI Global works on an array of issues with regulators including:

  • The Financial Stability Board
  • The International Organization of Securities Commissions
  • The European Securities and Markets Authority
  • U.S. Treasury and other leading national ministries and regulators worldwide
  • Organization for Economic Cooperation and Development
  • International Monetary Fund
  • Bank of International Settlements
  • Basel Committee

Why is ICI Global based in London?

London is well suited for ICI Global, given the city’s role as a financial center and its geographic proximity to the headquarters of several important global financial regulators.

Are there other fund associations doing similar work?

There are many national and regional fund organizations whose market-specific work is excellent and well respected. ICI Global avoids duplication with the important work these organizations undertake at the national and regional level. This effort adds an exclusively focused, global voice—fully backed by large and experienced legal and research analysis teams—that coordinates closely with existing fund associations.

What priorities and policy issues does ICI Global address?

ICI Global focuses on four areas, addressing these representative issues:

Role of funds and fund managers in financial stability

  • Nonbank financial intermediation
  • Systemically important financial institutions (SIFIs)
  • Money market funds
  • Securities lending and repos
  • Exchange-traded funds

Key regulatory developments for funds

  • Tax and accounting changes (e.g., Foreign Account Tax Compliance Act [FATCA], International Financial Reporting Standards [IFRS]
  • Global trends in fund distribution
  • Global fund disclosure standards
  • Use of derivatives by funds
  • Regulation of remuneration/compensation
  • Global custody

Trading and market structure

  • Global capital markets (transparency, dark pools, liquidity, impact of high-frequency trading, regulatory interventions in stressed market conditions)
  • Derivatives markets (increasing regulation of over-the-counter derivatives)
  • Retirement savings and pension systems
  • Increasing individual responsibility for retirement provision
  • Growth of defined contribution plans
  • Role of funds in emerging national pension systems

Retirement savings and pension systems

  • Increasing individual responsibility for retirement provision
  • Growth of defined contribution plans
  • Role of funds in emerging national pension systems

What is the leadership structure of ICI Global?

ICI Global is led by Managing Director Dan Waters and overseen by Paul Schott Stevens, in his role as president and chief executive officer of the Investment Company Institute. A steering committee of global fund leaders also guides ICI Global. That committee’s chair is Robert Higginbotham, Head of Global Investment Services at T. Rowe Price.

How active are U.S.-based fund complexes in the global fund environment?

ICI members and their affiliates manage globally at least $16.38 trillion of UCITS and mutual funds, or 62 percent of the $26.6 trillion in global mutual fund and ETF assets.

Who has joined ICI Global?

Leading international fund management groups belonging to ICI Global include:

  • AllianceBernstein, Ltd.
  • Artisan Partners Global Funds, plc
  • Baring Asset Management Limited
  • Capital Group Companies Global
  • China Asset Management (Hong Kong) Limited
  • China Universal Asset Management Co. Ltd
  • CSOP Asset Management Limited
  • Dodge & Cox Worldwide Investments Ltd.
  • Eaton Vance International (Ireland) Funds plc
  • Federated Investors Funds
  • Franklin Templeton Investments
  • Fullgoal Asset Management (HK) Ltd.
  • Goldman Sachs Asset Management
  • Haitong Asset Management (HK) Limited
  • Henderson Global plc
  • HuaAn Asset Management (Hong Kong) Ltd.
  • ING Investment Management 
  • Invesco Perpetual
  • J.P. Morgan Asset Management (UK) Limited
  • John Hancock Financial Services, Inc.
  • Legg Mason
  • Matthews International Capital Management, LLC
  • MFS Investment (UK) Ltd
  • Morgan Stanley Investment Management, Inc.
  • Neuberger Berman Management LLC
  • Nikko Asset Management Co. Ltd.
  • Nuveen Investments
  • PIMCO Europe Ltd.
  • Pyramis Global Advisors (UK) Limited
  • T. Rowe Price Global Investment Services, Inc.
  • TD Asset Management, Inc.
  • Threadneedle Investment Services Limited
  • UBS Global Asset Management (UK)
  • Vanguard Asset Management Limited
  • Wells Fargo Funds Management, LLC