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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 1587 Introduced in House (IH)]

<DOC>

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;
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 innovation, growth, and service to investors 
        across the Nation: Now, therefore, be it
    Resolved, That the House of Representatives recognizes and honors 
the 100th anniversary of mutual funds, acknowledging their profound 
impact on the financial well-being of millions of Americans and their 
enduring contribution to the strength and vitality of United States 
households, capital markets, and the economy.
                                 <all>
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