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Bringing Economic Analysis to the Debate Over Private Markets in Defined Contribution Plans

Private markets play a growing role in economic growth and investment opportunities, yet most retirement savers have limited access to them. The DOL’s proposed safe harbor would make it easier for plan fiduciaries to include private market investments in defined contribution plans, underscoring the need for policy decisions grounded in rigorous economic analysis.

Private market allocations can improve outcomes for retirement savers. Simulations of target date funds in 401(k) plans over a 40-year period show that the median account balance was 12% higher for a...

Private markets play an increasingly important role in capital formation, business expansion, and job creation, but access to those investment opportunities remains limited for most retail investors...

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Our Impact by the Numbers


$46.13T

Total Assets Represented

Managed by ICI members across mutual funds, ETFs, closed-end funds, and more, underscoring our industry’s economic influence.

29K+

Funds Represented

Represented by ICI’s member companies, spanning a diverse range of investment products.

128M+

US Investors

Supported through ICI’s advocacy for policies that protect and empower individual investors nationwide.

About ICI


The Investment Company Institute (ICI) provides essential data and insights to strengthen the asset management industry and support informed decisions.

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Shaping Public Policy and Regulation

ICI works with regulators and policymakers in the United States and around the world, bringing to bear robust legal and economic analysis to support its efforts and applying a deep understanding of regulatory and policymaking processes and priorities.

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Publishing Leading-Edge Research

ICI publishes leading-edge research on financial markets, financial stability, and tax and retirement policy. ICI is also an authoritative source of statistics on the fund industry, collected from ICI member firms and trusted organizations, to provide a comprehensive assessment of the industry and its shareholders at any given point in time.

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Supporting the Asset Management Industry

ICI organizes each year eight major public industry conferences and dozens of webinars and trainings each year as well as hosts more than 100 member committees, working groups, and task forces to share industry best practices, gather input from industry professionals, and discuss common challenges related to operations, regulations, and technology.