But so far, the ICI is seen as an organization that has evolved from being thin-skinned in the 1980s and 1990s to one that can simultaneously defend mutual funds without bashing the other investment options.
The ICI’s president, Paul Schott Stevens, said in a statement, "What’s good for our 90 million shareholders is good for our industry."
But as their shareholders evolve, will the ICI be proactive in addressing ETF investors’ needs? The industry is going to keep a watchful eye.
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