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 fi-
nancial landscape of the United States for a century, pro-
viding 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 Mas-
sachusetts 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 Ameri-
cans who rely on funds for their financial well-being; 
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•HRES 1587 IH 
Whereas the Securities and Exchange Commission has fur-
ther strengthened funds by overseeing them and their ad-
visers 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 com-
petitiveness, growth, and stability of the American econ-
omy and markets; 
Whereas mutual funds have provided investors with substan-
tial benefits at a reasonable cost, including professional 
management, diversification, transparency, and access to 
various investment strategies, thereby empowering indi-
viduals to participate in the financial markets with con-
fidence; 
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 tes-
tament 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 accu-
mulation for generations of Americans, helping individ-
uals build brighter futures for themselves and their fami-
lies; and 
Whereas the 100th anniversary of mutual funds is a mile-
stone worth celebrating, reflecting a century of innova-
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•HRES 1587 IH 
tion, growth, and service to investors across the Nation: 
Now, therefore, be it 
Resolved, That the House of Representatives recog-
nizes and honors the 100th anniversary of mutual funds, 
acknowledging their profound impact on the financial well- 
being of millions of Americans and their enduring con-
tribution to the strength and vitality of United States 
households, capital markets, and the economy. 
Æ 
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