IV 

118TH CONGRESS 

2D SESSION H. RES. 1587 

Honoring the 100th anniversary of mutual funds. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 20, 2024 

Mr. GARBARINO (for himself and Mr. SHERMAN) submitted the following 

resolution; which was referred to the Committee on Financial Services 

RESOLUTION 

Honoring the 100th anniversary of mutual funds. 

Whereas mutual funds have played an integral role in the financial landscape of the United States for a century, providing more than 100,000,000 Americans with access to 

diverse investment opportunities and helping them 

achieve their financial goals; 

Whereas the concept of mutual funds was pioneered by Massachusetts Investors Trust, established in 1924, marking 

the birth of an innovative investment vehicle that has 

since democratized investing for individuals from all 

walks of life; 

Whereas Congress enacted the Investment Company Act of 

1940 and the Investment Advisers Act of 1940 to 

strengthen and support funds for the benefit of Americans who rely on funds for their financial well-being; 


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•HRES 1587 IH 

Whereas the Securities and Exchange Commission has further strengthened funds by overseeing them and their advisers and seeking to adopt regulations that protect every 

day investors and promote efficiency, competition, and 

capital formation; 

Whereas mutual funds have demonstrated resilience and 

adaptability, to meet the changing needs and preferences 

of investors, and contributing significantly to the competitiveness, growth, and stability of the American economy and markets; 

Whereas mutual funds have provided investors with substantial benefits at a reasonable cost, including professional 

management, diversification, transparency, and access to 

various investment strategies, thereby empowering individuals to participate in the financial markets with confidence; 

Whereas the mutual fund industry has fostered innovation 

and advancements in financial technology, contributing to 

the overall efficiency and competitiveness of funds and 

markets; 

Whereas the success and longevity of mutual funds are a testament to the strength and benefits of funds, as well as 

the trust and confidence of the millions of investors who 

have entrusted their savings to these investment vehicles; 

Whereas mutual funds have played a vital role in supporting 

retirement savings, education planning, and wealth accumulation for generations of Americans, helping individuals build brighter futures for themselves and their families; and 

Whereas the 100th anniversary of mutual funds is a milestone worth celebrating, reflecting a century of innovaVerDate Sep 11 2014 00:12 Nov 21, 2024 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6300 E:\BILLS\HR1587.IH HR1587

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•HRES 1587 IH 

tion, growth, and service to investors across the Nation: 

Now, therefore, be it 

1 Resolved, That the House of Representatives recog2 nizes and honors the 100th anniversary of mutual funds, 

3 acknowledging their profound impact on the financial well4 being of millions of Americans and their enduring con5 tribution to the strength and vitality of United States 

6 households, capital markets, and the economy. 

Æ 


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