Investment Company Institute - Investment & Finance Definition
A national association for the U.S. investment company industry, founded in 1940. Its members include nearly 9,000 mutual funds, over 500 closed-end funds, and a handful of sponsors of unit investment trusts. It represents its members in matters of legislation, regulation, taxation, public information, economic and policy research, and business operations. It prepares weekly, monthly, and annual statistics on the industry.