ICI Committed to Working with Congress and the SEC to Make a Strong System of Mutual Fund Regulation Even Stronger

Washington, DC, June 10, 2003 - The following statement from Investment Company Institute President Matthew P. Fink addresses today’s release of the SEC report on mutual funds.

“Investing in mutual funds has democratized investing and given more Americans a greater stake in our nation’s economy than was ever thought possible. Strong, appropriate regulation benefits the nation’s 95 million mutual fund investors and the Institute has consistently supported it. We remain committed to maintaining the trust of mutual fund investors and working constructively and expeditiously with Congressional leaders and the SEC to make our strong system of regulation even stronger. With this in mind, and a goal of bolstering investor confidence and serving the interests of mutual fund investors, we will study the report carefully.”