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Rating:ICI Gives ETF Shops a Greater Voice Not Rated 1.5 Email Routing List Email & Route  Print Print
Monday, January 28, 2008

ICI Gives ETF Shops a Greater Voice

Reported by Erin Kello

The Investment Company Institute is making ETFs a priority. The mutual fund trade organization has made its ETF committee a permanent fixture.

"The committee itself has been around for quite a while," ICI spokesman Edward Giltenan told The MFWire. "As of December it became a standing committee."

Chairing the committee is Bruce Bond, CEO of Wheaton, Illinois-based PowerShares.

"This is a reflection of the growth of the industry," Giltenan said. According to data from State Street Global Advisors, the ETF industry grew by 45 percent in 2007, increasing its assets from $420 billion to $608 billion as of December 31, 2007.  

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Bruce Bond
PowerShares Capital Management
Founder, President and CEO
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