2011 Investment Company Fact Book

PDF Version

Letter from the Chief Economist

ICI Research: Staff and Publications

Part 1: Analysis and Statistics

Chapter 1: Overview of U.S.-Registered Investment Companies

Investment Company Assets in 2010

Americans' Continued Reliance on Investment Companies

Role of Investment Companies in Financial Markets

Types of Intermediaries and Number of Investment Companies

Investment Company Employment

Chapter 2: Recent Mutual Fund Trends

U.S. Mutual Fund Assets

Developments in Mutual Fund Flows

Demand for Long-Term Mutual Funds

Demand for Money Market Funds

Chapter 3: Exchange-Traded Funds

What Is an ETF?

Total Net Assets of ETFs

Creation of an ETF

ETFs and Mutual Funds

How ETFs Trade

Demand for ETFs

Characteristics of ETF-Owning Households

Chapter 4: Closed-End Funds

What Is a Closed-End Fund?

Total Net Assets of Closed-End Funds

Number of Closed-End Funds

Closed-End Fund Preferred Shares

Closed-End Fund Auction Market Preferred Stock

Characteristics of Households Owning Closed-End Funds

Chapter 5: Mutual Fund Fees and Expenses

Trends in Mutual Fund Fees and Expenses

Shareholder Demand for Lower-Cost Funds

Factors Influencing Mutual Fund Expenses

The Changing Distribution Structure of Mutual Funds

Chapter 6: Characteristics of Mutual Fund Owners

Individual and Household Ownership of Mutual Funds

Where Investors Own Mutual Funds

Shareholder Sentiment, Willingness to Take Investment Risk, and Confidence

Shareholders’ Use of the Internet

Institutional Ownership

Chapter 7: Retirement and Education Savings

The U.S. Retirement System

Defined Contribution Plans

Individual Retirement Accounts

The Role of Mutual Funds in Households’ Retirement Savings

The Role of Mutual Funds in Households’ Education Savings

Part 2: Data Tables

Data Tables

Section 1: U.S. Mutual Fund Totals

Section 2: Closed-End Funds, Exchange-Traded Funds, and Unit Investment Trusts

Section 3: U.S. Long-Term Mutual Funds

Section 4: U.S. Money Market Funds

Section 5: Additional Categories of U.S. Mutual Funds

Section 6: Institutional Investors in the U.S. Mutual Fund Industry

Section 7: Worldwide Mutual Fund Totals

Appendix A: How U.S.-Registered Investment Companies Operate and the
                  Core Principles Underlying Their Regulation

The Origins of Pooled Investing

The Different Types of U.S. Investment Companies

The Organization of a Mutual Fund

Tax Features of Funds

Core Principles Underlying the Regulation of U.S. Investment Companies

Appendix B: Significant Events in Fund History

Glossary

 
Copyright 2011 Investment Company Institute