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Appendix A

Governance and Finances

Governance

ICI is a 501(c)(6) organization that represents regulated investment companies on regulatory, legislative, and securities industry initiatives that affect funds and their shareholders. ICI members include mutual funds, exchange-traded funds, closed-end funds, and sponsors of unit investment trusts in the United States; similar funds offered to investors in jurisdictions worldwide; and their investment advisers and principal underwriters.

The Institute employs a staff of approximately 180. The ICI president and staff report to the Institute’s Board of Governors, which is responsible for overseeing the business affairs of ICI and determining the Institute’s positions on public policy matters.

ICI’s Board of Governors is composed of 57 members, representing ICI member companies and independent directors of investment companies. Governors are elected annually to staggered three-year terms. The Board is geographically diverse and includes representatives from large and small fund families, as well as fund groups sponsored by independent asset managers, broker-dealers, banks, and insurance companies. This broad-based representation helps to ensure that the Institute’s policy deliberations consider all segments of the fund industry and all investment company shareholders.

Five committees assist the Board of Governors with various aspects of the Institute’s affairs. These include an Executive Committee—responsible for evaluating policy alternatives and various business matters and making recommendations to the Board of Governors—as well as Audit, Compensation, Investment, and Nominating committees. Other than the Institute’s president, who is a member of the Executive Committee, all members of these committees are governors. The Board also has appointed the Chairman’s Council to administer the Institute’s political programs, including the political action committee, ICI PAC. The council includes 11 governors, the treasurer of ICI PAC, and the Institute’s president (ex officio).

To provide strategic direction to ICI’s international program, the ICI Global Policy Council takes the lead in setting the program’s priorities and coordinating initiatives worldwide, subject to the Executive Committee’s review and approval.

ICI addresses the needs of investment company independent directors through the Independent Directors Council (IDC). IDC organizes educational programs, keeps directors informed of industry and regulatory developments, assists in the development and communication of policy positions on key issues for fund boards, and promotes greater understanding of the role of fund directors. IDC’s Governing Council, made up of four committees, helps set IDC’s priorities in these areas.

Twenty-five standing committees, bringing together more than 2,400 industry professionals, guide the Institute’s policy work. ICI standing committees perform a number of important roles, including assisting with formulation of policy positions, and gathering and disseminating information on industry practices. In addition, 56 industry advisory committees, task forces, forums, and working groups with more than 4,000 participants tackle a range of regulatory, operations, and business issues. In all its activities, ICI strictly observes federal and state antitrust laws, in accordance with a long-standing and well-established compliance policy and program.

Finances

Throughout its history, the Institute has sought to prudently manage its financial affairs in a manner deemed appropriate by the Board of Governors, which is responsible for approving ICI’s annual budget and its member net dues rate. The Board of Governors considers both the Institute’s core and self-funded activities when approving the annual net dues rate.

Core activities are related to public policy and include regulatory, legislative, operational, economic research, and public communication initiatives in support of investment companies and their shareholders, directors, and advisers. Reflecting the Institute’s strategic focus on issues affecting investment companies, the Board of Governors has chosen to fund core activities with dues rather than seeking alternative sources of revenues, such as sales of publications, and strives to keep the level of dues relatively flat when compared to industry assets under management (see Figure 1). The significant majority of ICI’s total revenues in FY 2020, 99 percent, comes from dues, investment income, royalties, and miscellaneous program sources. Similarly, by design, 99 percent of the Institute’s total resources in FY 2020 are devoted to core activities (see Figure 2).

Core expenses support the wide range of initiatives described in this report. Self-funded activities (e.g., conferences, special surveys) are supported by separate fees paid by companies and individuals who participate in these activities. The financial goal for self-funded activities is that fees should cover all direct out-of-pocket costs and provide a margin to cover associated staff costs, to ensure that these activities are not subsidized by member dues. In FY 2020, two major ICI conferences were cancelled due to the pandemic, which resulted in a significant decline from the previous fiscal year in self-funded revenue and expenses.

FIGURE 1

Member Dues Relative to Assets Under Management Have Declined

Basis points

Figure 1

FIGURE 2

Member Dues Support Significant Majority of Core Activities at ICI

Figure 2

Investment Company Institute
Unaudited Financial Statements

Statement of Financial Position
AS OF SEPTEMBER 30, 2020
 
Assets
Cash and cash equivalents $1,211,785
Investments, at market value 72,412,703
Accounts receivable 1,138,115
Prepaid expenses 2,753,433
Other assets 3,639,145
Furniture, equipment, and leasehold improvements,
net (less accumulated depreciation of $15,005,937)
3,500,510
 
Total assets $84,655,691
 
Liabilities and Net Assets
Liabilities
Payroll and related charges accrued
   and withheld
9,059,044
Accrued pension liability 9,731,410
Accrued postretirement liability 15,389,637
Accounts payable and accrued expenses 2,713,833
Deferred revenue 546,176
Rent credit 1,616,448
Deferred rent 5,352,618
 
Total liabilities 44,409,166
 
Net Assets
Undesignated net assets 39,246,525
Board designated net assets 1,000,000
 
Total net assets 40,246,525
 
Total liabilities and net assets $84,655,691
These financial statements are preliminary unaudited statements as of September 30, 2020. Audited financial statements for the fiscal year ended September 30, 2020, will be available after February 1, 2021. To receive copies of the audited statements, please contact Mark Delcoco at mdelcoco@ici.org.
Statement of Activities and Changes in Net Assets
FOR THE YEAR ENDED SEPTEMBER 30, 2020
 
Core Income
Membership dues $66,705,994
Investment income 1,682,280
Royalty income 777,018
Program income 1,415,367
 
Total core income 70,580,659
 
Core Expenses
Administrative expenses 69,920,349
Program expenses 6,450,398
Depreciation and taxes 2,360,867
 
Total core expenses 78,731,614
 
Change in net assets—core (8,150,955)
 
Self-Funded Income
Conferences 410,458
Other self-funded income 659,274
 
Total self-funded income 1,069,732
 
Self-Funded Expenses
Conferences 664,771
Other self-funded expenses 264,535
 
Total self-funded expenses 929,306
 
Change in net assets—self-funded 140,426
 
Change in net assets from operations (8,010,529)
 
Loss on currency conversion (31,864)
Actuarial pension plan gain 7,729,489
Actuarial postretirement plan loss (1,060,968)
 
Change in net assets (1,373,872)
 
Net assets, beginning of year 41,620,397
 
Net assets, end of year $40,246,525
Appendix B

ICI Staff Leadership and Management

AS OF SEPTEMBER 30, 2020

Executive Office

Paul Schott Stevens 1, 2, 6
President and CEO

Donald C. Auerbach 3
Chief Operating Officer

Government Affairs

Dean R. Sackett III
Chief Government Affairs Officer

Ashley B. Cavossa
Director, Political Affairs

Peter J. Gunas III
Government Affairs Officer, Retirement Security and Tax Policy

Kelly S. Hitchcock
Director, Financial Services

Allen C. Huffman
Government Affairs Officer, Retirement Security and Tax Policy

Kathleen L. Mellody
Senior Government Affairs Officer

Cynthia Q. Pullom
Director, Financial Services

Law

Susan M. Olson
General Counsel

Dorothy M. Donohue
Deputy General Counsel, Securities Regulation

Sarah A. Bessin
Associate General Counsel

Kenneth C. Fang
Assistant General Counsel

Bridget D. Farrell
Assistant General Counsel

Rachel H. Graham
Associate General Counsel

Jane G. Heinrichs
Associate General Counsel

Nhan H. Nguyen
Counsel

Tamara K. Salmon
Associate General Counsel

Frances M. Stadler
Associate General Counsel and Corporate Secretary

J. Matthew Thornton
Assistant General Counsel

David M. Abbey
Deputy General Counsel, Retirement Policy

Elena B. Chism
Associate General Counsel

Shannon N. Salinas 4
Assistant General Counsel

Keith D. Lawson 5
Deputy General Counsel, Tax Law

Karen L. Gibian
Associate General Counsel

Katherine A. Sunderland
Assistant General Counsel

Operations

Martin A. Burns
Chief Industry Operations Officer

Linda J. Brenner
Senior Director, Account Management

Ahmed M. Elghazaly
Director, Securities Operations

Joanne M. Kane
Senior Director, Transfer Agency and Operations

Jeffrey A. Naylor
Director, Operations and Distribution

John F. Randall
Director, Operations and Distribution

Peter G. Salmon
Senior Director, Technology and Cybersecurity

Gregory M. Smith
Senior Director, Fund Accounting and Compliance

Public Communications

Mike McNamee
Chief Public Communications Officer

Matthew J. Beck
Senior Director, Media Relations

Public Communications, continued

Jeanne C. Arnold
Director, Media Relations

Garrett D. Hawkins
Director, Media Relations

Stephanie M. Ortbals-Tibbs
Director, Media Relations

Lauri M. Bearce
Senior Director, Content

Miriam E. Bridges
Director, Editorial

Christina M. Kilroy
Director, Digital Media, and Vice President, ICI Education Foundation

Janet M. Zavistovich
Senior Director, Communications Design

Research

Sean S. Collins
Chief Economist

Sarah A. Holden
Senior Director, Retirement and Investor Research

Peter J. Brady
Senior Economic Adviser

Jason S. Seligman
Senior Economist

Rochelle L. Antoniewicz
Senior Director, Industry and Financial Analysis

Christof W. Stahel
Senior Economist

Judith A. Steenstra
Senior Director, Statistical Research

Sheila M. McDonald
Director, Statistical Research

Administration

Vincent D. Banfi
Director, Systems Support and Operations

Ramesh Bhargava
Director, Information Technology

Paul R. Camarata
Director, Electronic Data Collection

Mark A. Delcoco
Chief Financial Officer

Patricia L. Conley
Director, Accounting

Laurie A. Cipriano
Senior Director, Conferences

Mary D. Kramer
Chief Human Resources Officer

Suzanne N. Rand
Senior Director, Human Resources

Anne S. Vandegrift
Director, Benefits

Sheila F. Moore
Director, Office Services

Michelle M. Kretsch
Senior Director, Membership Services

Brent E. Newton
Director, Subscription Programs and Membership

ICI Global

Patrice Bergé-Vincent
Managing Director, ICI Global

Alexa Lam
CEO, Asia-Pacific

Jennifer S. Choi
Chief Counsel

Anna A. Driggs
Director and Associate Chief Counsel, Global Regulation Affairs

Linda M. French
Assistant Chief Counsel, Securities Regulation

Eva M. Mykolenko
Associate Chief Counsel, Securities Regulation

Giles S. Swan
Director, Global Funds Policy

Independent Directors Council

Thomas T. Kim
Managing Director

Annette M. Capretta
Deputy Managing Director

Lisa C. Hamman
Senior Associate Counsel

1 Executive Committee of ICI’s Board of Governors

2 Chairman’s Council (ex officio)

3 Chairman’s Council and Treasurer to ICI PAC

4 Secretary to Chairman’s Council

5 Assistant Treasurer to Chairman’s Council

6 ICI Education Foundation Board

ICI’s Frances Stadler Retires After 30 Years of Service

Frances Stadler

Frances Stadler, ICI associate general counsel and corporate secretary, joined ICI’s Law Department in February 1990. In the ensuing 30 years, she worked on a wide range of securities law and ’40 Act issues, with noted work in banking law, financial stability, and the Volcker Rule.

Known for her skills as a legal analyst and writer, Frances played key roles in ICI’s response to the hardest projects. She wrote white papers on valuation, money laundering, international investing, and non–’40 Act investment restrictions. She has been instrumental for many years in planning ICI’s annual Mutual Funds and Investment Management Conference. Over 30 years, she helped shape the regulatory climate that allowed funds to develop a wave of innovations from money market funds to exchange-traded funds to target date funds. Before ICI, she was an associate at Kirkpatrick & Lockhart in Washington, DC. She graduated from the University of Virginia School of Law in 1985 and from Yale University in 1980.

“Frances combined deep mastery of the substance with a gracefulness in expression that always brought out the best possible case that we could make on behalf of the Institute and its members. From the broad sweep of strategy to the nuanced details, she could capture exactly what we needed to say.”

—Paul Schott Stevens

Appendix C

Fiscal Year 2020 Board of Governors

AS OF SEPTEMBER 30, 2020

George C. W. Gatch 2, 3, 4, 6, 7
ICI Chairman
Chief Executive Officer
J.P. Morgan Asset Management

William F. Truscott 2, 4, 6, 7
ICI Vice Chairman
Chief Executive Officer
Columbia Threadneedle Investments

Vijay C. Advani 2
Executive Chairman
Nuveen

Kyle C. Andersen
Principal, Solutions Coaching and Training
Edward Jones Investments

Andrew Arnott
President and CEO
John Hancock Investment Management

Kathleen Barr 1
Independent Director
Professionally Managed Portfolios and William Blair Funds

Mortimer J. Buckley 2
Chairman and CEO
Vanguard

Jane K. Carten
President, Director, and Portfolio Manager
Saturna Capital Corporation

James E. Davey 1
President
Hartford Funds

Jonathan de St. Paer
President
Charles Schwab Investment Management, Inc.

Thomas R. Donahue 3
Chief Financial Officer and Treasurer
Federated Hermes, Inc.

Robert G. Dorsey
Vice Chairman and Cofounder
Ultimus Fund Solutions, LLC

Kenneth C. Eich
Chief Operating Officer
Davis Selected Advisers, L.P.

Thomas E. Faust Jr. 2, 4, 6
Chairman and CEO
Eaton Vance Corp.

Martin L. Flanagan 2
President and CEO
Invesco Ltd.

David Giunta
President and CEO, US and Canada
Natixis Investment Managers

William J. Hackett 1
Chief Executive Officer
Matthews International Capital Management, LLC

Patrick Halter 1
Chief Executive Officer
Principal Global Investors, LLC

Brent R. Harris 4, 6
Managing Director
PIMCO

Diana P. Herrmann
President and CEO
Aquila Investment Management LLC

Mellody Hobson 2, 6
Co-CEO and President
Ariel Investments, LLC

Cynthia Hostetler 3
Independent Director
Invesco Funds

Yie-Hsin Hung 2
Chief Executive Office
New York Life Investment Management LLC

Christine L. Hurtsellers
Chief Executive Officer
Voya Investment Management LLC

Gregory E. Johnson 2
Executive Chairman
Franklin Templeton Investments

James L. Johnson Jr. 2
Chief Communications Officer and Executive Vice President, Public Affairs and Policy
Fidelity Investments

Lisa M. Jones 6
Head of Americas, President and CEO of US
Amundi Pioneer Asset Management, Inc.

Robert M. Keith
Head of Global Client Group, President and CEO, AB Funds
AllianceBernstein

Marie L. Knowles
Independent Director
Fidelity Fixed Income and Asset Allocation Funds

Susan C. Livingston 2, 6
Partner
Brown Brothers Harriman & Co.

Shawn K. Lytle 6
Head of Macquarie Investment Management
Macquarie Investment Management

James A. McNamara 2, 6
President
Goldman Sachs Mutual Funds

Garry L. Moody
Independent Director
AB Mutual Funds

Mark D. Nerud 1, 3
President and CEO
Jackson National Asset Management LLC

Catherine Newell 1, 6
President, Dimensional Funds
Dimensional Fund Advisors LP

Barbara Novick 2
Vice Chairman
BlackRock, Inc.

David Oestreicher 1
Chief Legal Counsel
T. Rowe Price Associates, Inc.

Andrew N. Owen
President, Wells Fargo Funds
Wells Fargo

Steven J. Paggioli
Independent Director
AMG Funds and Professionally Managed Portfolios

Stuart S. Parker 2, 3
President and CEO
PGIM Investments

Michael Roberge
Chief Executive Officer
MFS Investment Management

Kristi L. Rowsell
President
Harris Associates, L.P.

Douglas B. Sieg
Managing Partner, President, and CEO of the Lord Abbett Family of Funds
Lord Abbett & Co., LLC

Daniel Simkowitz 1
Head of Investment Management
Morgan Stanley

Erik R. Sirri 1
Independent Director
Loomis Sayles, Natixis ETFs, and Natixis Funds

Marijn P. Smit 1
President and CEO
Transamerica Asset Management, Inc.

William W. Strickland 1
Chief Operating Officer
Dodge & Cox

Joseph A. Sullivan
Chairman and CEO
Legg Mason, Inc.

Cyrus Taraporevala
President and CEO
State Street Global Advisors

Jonathan S. Thomas
President and CEO
American Century Investments

Shundrawn A. Thomas 1
President
Northern Trust Asset Management

Garrett Thornburg 6
Chairman
Thornburg Investment Management, Inc.

Ronald E. Toupin Jr. 1
Independent Director
Guggenheim Funds

Bradley J. Vogt 2, 4
Chairman
Capital Research Company, Inc.

Dawn M. Vroegop 2, 5, 7
Independent Director
Brighthouse Funds and Driehaus Funds

George H. Walker
Chairman and CEO
Neuberger Berman

Jonathan F. Zeschin 2
Independent Director
Matthews Asia Funds

1 Governor on sabbatical

2 Executive Committee member

3 Audit Committee member

4 Investment Committee member

5 Chair of the Independent Directors Council

6 Chairman’s Council member

7 ICI Education Foundation Board member

2020 ICI Executive Committee

Board of Govvernors

From left to right: Bradley J. Vogt, Paul Schott Stevens, Mellody Hobson, Thomas E. Faust Jr., Dawn M. Vroegop, Jonathan F. Zeschin, James L. Johnson Jr., George C. W. Gatch, Mortimer J. Buckley, James A. McNamara, Stuart S. Parker, Gregory E. Johnson, Barbara Novick, Vijay C. Advani, Martin L. Flanagan, Susan C. Livingston, Yie-Hsin Hung, and William F. Truscott

Appendix D

ICI Standing Committees and Chairs

AS OF SEPTEMBER 30, 2020

Accounting/Treasurers

Toai Chin
Head of Fund Accounting Policy
Vanguard

CCO (Chief Compliance Officer)

Katherine M. Primas
Chief Compliance Officer
Dodge & Cox

Chief Information Security Officer

Mike Catlin
Senior Vice President, Head of Technology Services, and Chief Information Security Officer
Capital Research and Management Company

Chief Risk Officer

Rhonda K. R. Cook
Chief Risk Officer
SEI Investments Management Corporation

Closed-End Investment Company

David Lamb
Managing Director, Closed-End Funds
Nuveen

ETF (Exchange-Traded Funds)

Adam Phillips
Chief Operating Officer
Van Eck Global

ICI Global Exchange-Traded Funds
 

ICI Global Information Security Officer, London
 

ICI Global Information Security Officer, Tokyo
 

ICI Global Public Communications
 

ICI Global Regulated Funds
 

ICI Global Retirement Savings

Michael Doshier
Senior Defined Contribution Strategist
T. Rowe Price Associates, Inc.

ICI Global Tax
 

ICI Global Trading and Markets
 

Internal Audit

Jeffrey D. Coaxum
Senior Vice President
Brown Brothers Harriman & Co.

Investment Advisers
 

Operations

Peter G. Callahan
Senior Vice President and Head of Global Transfer Agent Operations
AB Global

Pension

Jason Bortz
Senior Counsel and Senior Vice President
Capital Research and Management Company

Public Communications

Lisa M. Gallegos
Senior Vice President, Corporate Communications–Global
Franklin Templeton Investments

Research

Paul D. Schaeffer
Director
IndexIQ ETF Trust

Sales and Marketing

Jeffrey O. Duckworth
President of US Intermediary Distribution
John Hancock Investment Management

SEC Rules

Joshua D. Ratner
Executive Vice President
PIMCO LLC

Small Funds

Jane K. Carten
President, Director, and Portfolio Manager
Saturna Capital Corporation

Tax

Jonathan G. Davis
Assistant Treasurer, Fidelity Funds
Fidelity Investments

Technology

Joe Boerio
Senior Vice President, Chief Technology Officer, and Head, IM Data Science and Fintech
Franklin Templeton Investments

Unit Investment Trust

W. Scott Jardine
General Counsel
First Trust Advisors, L.P.

Appendix E

IDC Governing Council

AS OF SEPTEMBER 30, 2020

Dawn M. Vroegop*
IDC Chair
Independent Director
Brighthouse Funds and Driehaus Funds

Kathleen T. Barr*
IDC Vice Chair
Independent Director
Professionally Managed Portfolios and William Blair Funds

Julie Allecta
Independent Director
Litman Gregory Masters Funds and Salient Funds

Donald C. Burke
Independent Director
Duff & Phelps Funds and Virtus Funds

Gale K. Caruso
Independent Director
Matthews Asia Funds and Pacific Life Funds

Robert J. Chersi
Independent Director
Thrivent Funds

David H. Chow
Independent Director
MainStay Funds and VanEck Vectors ETF Trust

Sue C. Coté
Independent Director
SEI Funds

William R. Ebsworth
Independent Director
Wells Fargo Funds

Susan C. Gause
Independent Director
Brighthouse Funds and HSBC Funds

Anne M. Goggin
Independent Director
Pax World Funds

George J. Gorman
Independent Director
Eaton Vance Funds

Keith F. Hartstein
Independent Director
PGIM Funds

Cecilia H. Herbert
Independent Director
iShares Funds and Thrivent Church Loan & Income Fund

Mary Davis Holt
Independent Director
American Funds

Cynthia Hostetler*
Independent Director
Invesco Funds

Marie L. Knowles*
Independent Director
Fidelity Fixed Income and Asset Allocation Funds

Thomas P. Lemke
Independent Director
JP Morgan Exchange-Traded Fund Trust and SEI Funds

Joseph Mauriello
Independent Director
Fidelity Equity and High Income Funds

Garry L. Moody*
Independent Director
AB Mutual Funds

Joanne Pace
Independent Director
Invesco Exchange-Traded Fund Trusts

Steven J. Paggioli*
Independent Director
AMG Funds and Professionally Managed Portfolios

Cynthia R. Plouché
Independent Director
Barings Funds and Northern Funds

Sheryl K. Pressler
Independent Director
Voya Funds

Karla M. Rabusch
Independent Director
Lord Abbett Funds

Erik R. Sirri*
Independent Director
Loomis Sayles Funds, Natixis ETFs, and Natixis Funds

Ronald E. Toupin Jr.*
Independent Director
Guggenheim Funds

Jonathan F. Zeschin*
Independent Director
Matthews Asia Funds

Appendix F

ICI Global Policy Council

AS OF SEPTEMBER 30, 2020

Atlantic

James M. Norris
ICI Global Atlantic Policy Council Chairman
Managing Director, International Operations
Vanguard

Clive Brown
Chief Executive Officer, International
RBC Global Asset Management

Clarke Camper
Executive Vice President, Head of Government Relations
Capital Group Companies Global

Arnaud Cosserat
Chief Executive Officer
Comgest S.A.

Gregory Dulski
General Counsel
Federated Investors (UK) LLP

Stephen Fisher
Managing Director
BlackRock Investment Management (UK) Limited

Massimo Greco
Managing Director, Head of European Fund Business
J.P. Morgan Asset Management (UK) Limited

Tjalling Halbertsma
Managing Director
Eaton Vance Management (International) Limited

Robert Higginbotham
President, Global Investment Management Services
T. Rowe Price International Ltd.

Alex Hoctor-Duncan
Head of EMEA Distribution
Aberdeen Asset Management PLC

Susan Hudson
Managing Director
UBS Asset Management (UK) Ltd.

Kathleen Hughes
Global Head of Liquidity Sales and Head of European Institutional Sales
Goldman Sachs Asset Management International

Terry Mellish
Senior Advisor, Institutional Sales, Government Relations, Diversity and Inclusion
Natixis Investment Management UK Limited

Andrew Nicoll
Global Head of Insurance
Columbia Threadneedle Investments

Jed Plafker
Executive Vice President, Global Alliances and New Business Strategies
Franklin Templeton Investments

Doug Sharp
Senior Managing Director and Head of EMEA
Invesco Asset Management, Ltd.

Tim Stumpff
Chief Executive Officer
Principal Global Investors (Europe) Ltd.

Pacific

David J. Semaya
ICI Global Pacific Policy Council Chairman
Executive Chairman
Sumitomo Mitsui Trust Asset Management

Pedro Bastos
CEO, Hong Kong, and Regional Head, Asia Pacific
HSBC Asset Management (Hong Kong) Ltd.

Mark Browning
Head of Asia Pacific
Franklin Templeton Investments Singapore

Chen Ding
Chief Executive Officer
CSOP Asset Management Limited

Jessica Jones
Managing Director, Head of Asia ex-Japan Third Party Distribution
Goldman Sachs (Asia) LLC

Ajai Kaul
CEO, Asia ex-Japan
AllianceBernstein Singapore Ltd.

Andrew Lo
Chief Executive, Asia Pacific
Invesco Hong Kong Limited

Angus N. G. Macdonald
Executive Director
Baillie Gifford Asia (Hong Kong) Limited

Junko Nakagawa
President and CEO
Nomura Asset Management Co., Ltd.

Winnie Pun
Head of APAC Public Policy
BlackRock Asset Management North Asia Limited

JungHo Rhee
Chief Executive Officer
Mirae Asset Global Investments (HK) Limited

Kimberley Stafford
Managing Director, Head of Asia Pacific
PIMCO Asia Limited

Akira Sugano
President and CEO
Asset Management One Co., Ltd.

Daniel Watkins
Chief Executive Officer, Asset Management Asia Pacific
J.P. Morgan Asset Management (Hong Kong)

Appendix G

Events and Webinars

ICI offers extensive opportunities for learning and networking by organizing conferences, seminars, and other events around the world to enable members and other stakeholders to gather, discuss the latest challenges and opportunities, and share ideas and information.

In addition to the opportunities highlighted below, ICI’s global division also holds regional chapter meetings—Atlantic and Pacific chapters—where senior business leaders from member firms offer feedback on high-priority issues and global initiatives. The Independent Directors Council also provides many opportunities for directors to come together for education and meaningful dialogue with each other—for example, in this fiscal year, IDC had approximately 35 chapter meetings and conference calls. For more information, visit www.ici.org/events.

Events

October 1, 2019 The State of the Fund Industry 1 Lone Tree, CO
October 21–23, 2019 Fund Directors Conference 2 Chicago
November 7, 2019 Closed-End Fund Conference New York
December 3, 2019 Securities Law Developments Conference 3 Washington, DC
March 2–3, 2020 Foundations for Fund Directors® 4 Los Angeles
July 22, 2020 Independent Counsel Roundtable 2 Virtual
September 16–17, 2020 Foundations for Fund Directors® 4 Virtual
September 22, 2020 Tax and Accounting Conference 5 Virtual
September 24, 2020 Securities Law Developments Conference 3, 6 Virtual

Webinars

1 Cosponsored with the Denver Area 1940 Act Group.

2 Sponsored by IDC.

3 Sponsored by the ICI Education Foundation.

4 Foundations for Fund Directors® is sponsored by IDC.

5 The 2020 Tax and Accounting Conference was held virtually over three days: September 22, September 29, and October 6.

6 The 2020 Securities Law Developments Conference was held virtually over two days: September 24 and October 1.

Note: The 2020 Mutual Funds and Investment Management Conference and the 2020 General Membership Meeting were cancelled because of the COVID-19 pandemic.

Appendix H

Publications and Statistical Releases

ICI is the primary source of analysis and statistical information on the investment company industry. ICI publications are available on the Institute’s website at www.ici.org.

Industry and Financial Analysis

Retirement and Investor Research

Operations

Independent Directors Council

Investment Company Fact Book

ICI’s annual data and analysis resource, 2020 Investment Company Fact Book: A Review of Trends and Activities in the Investment Company Industry, provides current information and historical trends for registered investment companies, reporting on retirement assets, characteristics of mutual fund owners, use of index funds, and other trends. It is available in both PDF and HTML versions at www.icifactbook.org. The HTML version provides downloadable data for all charts and tables.

ICI Viewpoints

The Institute’s blog, ICI Viewpoints, features analysis and commentary from Institute experts in economics, law, fund operations, and government affairs on the key issues facing funds, their shareholders, directors, and investment advisers. ICI Viewpoints is available on the Institute’s website at www.ici.org/viewpoints.

Statistical Releases

The ICI Research Department released more than 300 statistical reports in this fiscal year. The most recent ICI statistics and an archive of statistical releases are available at www.ici.org/research/stats. To subscribe to ICI’s statistical releases, visit www.ici.org/pdf/stats_subs_order.pdf.

Appendix I

ICI Mutual Insurance Company

ICI Mutual Insurance Company, RRG, is an independent company formed by the mutual fund industry to provide various forms of liability insurance and risk management services to mutual funds, their directors, officers, and advisers. An organization must be an ICI member to purchase insurance from ICI Mutual.