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Paul Schott Stevens

The new president of the Investment Company Institute, which acts as an association for U.S. investment companies, spoke to the National Press Club about the future of mutual funds. "About half of all money Americans have in IRAs, or about $1.3 trillion, is invested in mutual funds," said ICI President Paul Schott Stevens in his speech. "I have become president of the ICI at a time of widespread concern about whether America's mutual funds can continue to vindicate the confidence and trust that millions of investors have placed in them. Let me be plain: I have absolute confidence that they will."

The Color of Money: Scandals and Secure Investments

Investment Company Institute Web Site

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