Sincerest thanks to all of you who attended ICI’s 50th Annual General Membership Meeting. I know you will agree it was a very special gathering for our industry—perhaps the best GMM ever!
The program did justice to the golden anniversary theme of Our Foundations—Our Future. It has been said that nothing truly worthy
in the past departs. We can face the challenges that lie ahead with all the more confidence if we build on the very best of our history and fiduciary tradition—a powerful lesson that our 50th GMM helped drive home. We look forward to seeing you at the 51st GMM in 2009.
Paul Schott Stevens President & CEO
The “deleveraging process” that is mitigating the nation’s financial crisis will take at least six more months to complete, but “we know there’s liquidity out there,” JPMorgan Chase Chairman of the Board and Chief Executive Officer Jamie Dimon predicted in his keynote address. Commenting that the current financial crisis has been accelerated by institutions buying such complex instruments as “subprime residuals and CDOs squared,” Dimon cautioned that Wall Street firms need to be vigilant about the financial products they sell.
The theme of the 50th Annual GMM, Our Foundations—Our Future, recognizes that the tremendous growth enjoyed by investment companies over the past 50 years would not have been possible without the strong ethical foundation upon which the fund industry was built. The 2008 program explored key events in mutual fund history, the role of strong leadership, and opportunities to continue serving the investing public.
Sincerest thanks to all of you who attended ICI’s 50th Annual General Membership Meeting. I know you will agree it was a very special gathering for our industry—perhaps the best GMM ever!
The program did justice to the golden anniversary theme of Our Foundations—Our Future. It has been said that nothing truly worthy
in the past departs. We can face the challenges that lie ahead with all the more confidence if we build on the very best of our history and fiduciary tradition—a powerful lesson that our 50th GMM helped drive home. We look forward to seeing you at the 51st GMM in 2009.
The “deleveraging process” that is mitigating the nation’s financial crisis will take at least six more months to complete, but “we know there’s liquidity out there,” JPMorgan Chase Chairman of the Board and Chief Executive Officer Jamie Dimon predicted in his keynote address. Commenting that the current financial crisis has been accelerated by institutions buying such complex instruments as “subprime residuals and CDOs squared,” Dimon cautioned that Wall Street firms need to be vigilant about the financial products they sell. 
The theme of the 50th Annual GMM, Our Foundations—Our Future, recognizes that the tremendous growth enjoyed by investment companies over the past 50 years would not have been possible without the strong ethical foundation upon which the fund industry was built. The 2008 program explored key events in mutual fund history, the role of strong leadership, and opportunities to continue serving the investing public.