ICI Senior Research Staff
SENIOR DIRECTOR OF INDUSTRY AND FINANCIAL ANALYSIS
SENIOR DIRECTOR OF RETIREMENT AND INVESTOR RESEARCH
SENIOR DIRECTOR OF STATISTICAL RESEARCH
ICI Research Department
The ICI Research Department consists of 39 members, including economists and research analysts. This staff collects and disseminates data for all types of registered investment companies, offering detailed analyses of fund shareholders, the economics of investment companies, and the retirement and education savings markets.
2015 ICI Research and Statistical Publications
ICI is the primary source of analysis and statistical information on the investment company industry. In 2015, the Institute’s Research Department released more than 180 statistical reports examining the broader investment company industry as well as specific segments of the industry: money market funds, closed-end funds, exchange-traded funds, and unit investment trusts. In addition to the annual Investment Company Fact Book, ICI released 20 research and policy publications in 2015, examining the industry and its shareholders.
In a new ICI book written in 2015, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, Senior Economist Peter J. Brady dispels myths about tax deferral and details how the current structure of the U.S. retirement system is progressive and provides benefits to all American workers. Brady’s innovative work was highly praised and its findings bear directly on today’s pressing policy debates. The book and related materials are available at www.ici.org/whobenefits.
The Investment Company Fact Book remains one of ICI Research’s most visible products—garnering more than 38,000 visits and downloads in 2015. In its 56th edition, this ICI publication continues to provide the public and policymakers with a comprehensive summary of ICI’s data and analysis. The Fact Book is available at www.icifactbook.org in both PDF and HTML formats. The HTML version contains downloadable data for all charts and tables.
Industry and Financial Analysis
- The Role and Activities of Authorized Participants of Exchange-Traded Funds, March 2015
- “The Closed-End Fund Market, 2014,” ICI Research Perspective, April 2015
- “Regulated Funds, Emerging Markets, and Financial Stability,” ICI Global Research Perspective, April 2015
- “American Views on Defined Contribution Plan Saving,” ICI Research Report, January 2015
- “Profile of Mutual Fund Shareholders, 2014,” ICI Research Report, February 2015
- “The IRA Investor Profile: Traditional IRA Investors’ Activity, 2007–2013,” ICI Research Report, July 2015
- “The IRA Investor Profile: Roth IRA Investors’ Activity, 2007–2013,” ICI Research Report, July 2015
- “Characteristics of Mutual Fund Investors, 2015,” ICI Research Perspective, November 2015
- “Ownership of Mutual Funds, Shareholder Sentiment, and Use of the Internet, 2015,” ICI Research Perspective, November 2015
- “The Role of IRAs in U.S. Households’ Saving for Retirement, 2014,” ICI Research Perspective, January 2015
- “Defined Contribution Plan Participants’ Activities, First Three Quarters of 2014,” ICI Research Report, February 2015
- “Defined Contribution Plan Participants’ Activities, 2014,” ICI Research Report, April 2015
- The BrightScope/ICI Defined Contribution Plan Profile: A Close Look at ERISA 403(b) Plans, June 2015
- “The Economics of Providing 401(k) Plans: Services, Fees, and Expenses, 2014,” ICI Research Perspective, August 2015
- “Defined Contribution Plan Participants’ Activities, First Quarter 2015,” ICI Research Report, August 2015
- “What Does Consistent Participation in 401(k) Plans Generate? Changes in 401(k) Account Balances, 2007–2013,” ICI Research Perspective, September 2015
- “Who Benefits from the U.S. Retirement System,” ICI Research Perspective, November 2015
- “Defined Contribution Plan Participants’ Activities, First Half 2015,” ICI Research Report, November 2015
- The BrightScope/ICI Defined Contribution Plan Profile: A Close Look at 401(k) Plans, 2013, December 2015
ICI’s papers and more are available at www.ici.org/research.
Analysis and Commentary: ICI Viewpoints
In addition to research papers, ICI staff produce analysis and commentary for the Institute’s blog, ICI Viewpoints. Below are some examples of the analysis published in 2015. Please visit www.ici.org/viewpoints to find these and more.
- The Wall Street Journal’s Dangerous Disservice to Investors
- Getting the Numbers Right on Investment Advice for Retirement Savers
- The IMF Is Entitled to Its Opinion, but Not to Its Own Facts
- On Fiduciary Rule, New York Times Relies on Fatally Flawed Research
- Correcting a Distorted Picture of Retirement Resources
- The IMF on Asset Management: Which Herd to Follow?
- High-Yield Bond Mutual Fund Flows: Some Perspective
- Changes to Money Market Funds Are Showing Up in Data
- Does Liquidity in ETFs Depend Solely on Authorized Participants?
- New York Times Paints False Picture of Funds’ Emerging Market Investments
- Why Long-Term Fund Flows Aren’t a Systemic Risk: Past Is Prologue
- The IMF Quietly Changes Its Data, but Not Its Views
- The IMF on Asset Management: Handle Empirical Results with Care
- Ignore the IMF’s Uninformed Call for a Third Round of Reforms to U.S. Money Market Funds
- Federal Reserve Reverse Repo Facility Helps Stabilize Short-Term Money Markets
- Small Savers at a Loss
- Why Long-Term Fund Flows Aren’t a Systemic Risk: Multi-Sector Review Shows the Same Result
- U.S. Bond ETFs Resilient on August 24
- More Unfounded Speculation on Bond ETFs and Financial Stability
- High-Yield Bond ETFs: A Source of Liquidity
Trends in Mutual Fund Investing
- A monthly report that includes mutual fund sales, redemptions, assets, cash positions, exchange activity, and portfolio transactions for the period.
Estimated Long-Term Mutual Fund Flows
- A weekly report that provides aggregate estimates of net new cash flows to equity, hybrid, and bond mutual funds.
Money Market Fund Assets
- A weekly report on money market fund assets by type of fund.
Monthly Taxable Money Market Fund Portfolio Data
- A monthly report based on data contained in SEC Form N-MFP that provides insights into the aggregated holdings of prime and government money market funds and the nature and maturity of security holdings and repurchase agreements.
Retirement Market Data
- A quarterly report that includes individual retirement account and defined contribution plan assets and mutual fund assets held in those accounts by type of fund.
Closed-End Fund Data
- A quarterly report on closed-end fund assets, number of funds, issuance, and number of shareholders.
Exchange-Traded Fund Data
- A monthly report that includes assets, number of funds, issuance, and redemptions of ETFs.
Unit Investment Trust Data
- A monthly report that includes the value and number of new trust deposits by type and maturity.
Worldwide Regulated Open-End Fund Data
A quarterly report that includes assets, number of funds, and net sales of funds in countries worldwide.
Publication of the 2016 Investment Company Fact Book was directed by Chris Plantier, senior economist, and Judy Steenstra, senior director of statistical research, working with Miriam Bridges, editorial director, Candice Gullett, senior copyeditor, and Jodi Weakland, design director. Contributors from ICI’s research team who developed and edited analysis, text, and data are Shelly Antoniewicz, Steven Bass, Mike Bogdan, James Duvall, Emily Gallagher, Sheila McDonald, Doug Richardson, Julieth Saenz, Dan Schrass, and Erin Short.