ICI Encourages Participation in “America Saves” Week

Washington, DC, February 6, 2012 - The Investment Company Institute, the national association of mutual funds and other investment companies, is encouraging Americans to assess their personal savings and set a savings goal as part of the “America Saves Week” national campaign. ICI joins numerous corporate, nonprofit, and government organizations nationwide in participating in the annual campaign that takes place February 19–26 this year. The 2012 theme is “Set a Goal. Make a Plan. Save Automatically.”

Mutual Funds Play a Key Role in Americans’ Savings

More than 90 million Americans use mutual funds to save for their financial goals. ICI research has found that 94 percent of mutual fund–owning households identified saving for retirement as one of their financial goals; nearly three-quarters said it’s their primary goal. Nearly half listed saving for an emergency as a goal; and about one-quarter reported saving for education among their goals. In addition, an ICI study released last month confirms that, despite recent financial stresses, Americans remain committed to saving for retirement.

“Our research shows that having a retirement plan helps promote saving,” said Paul Schott Stevens, ICI president and CEO. “A retirement plan helps people think about the long term and makes it easier for them to save.”

ICI and ICIEF Encourage Financial Literacy

Stevens urged all organizations participating in America Saves Week to use this opportunity to ensure Americans get the information they need to make the best possible savings decisions. The Institute’s Education Foundation sponsors a microgrant program to help schools and nonprofit organizations advance investor education within the greater metropolitan Washington, DC, area. Please visit ICIEF’s site for more information about the grant program.

ICIEF is the educational affiliate of the Investment Company Institute, the national association of U.S. investment companies, including mutual funds, closed-end funds, exchange-traded funds (ETFs), and unit investment trusts (UITs). Founded in 1989, ICIEF has partnered with schools, nonprofits, and government agencies to develop, deliver, and sponsor investment education programs to underserved Americans. For information about ICIEF’s grant program for investor education initiatives within the metropolitan Washington, DC area, please see www.icief.org.