“The Investment Company Institute’s Paul Schott Stevens has urged the $32tn fund industry to rise to the challenge of mounting public scrutiny ... Mr Stevens informed the ICI board on Monday night that he would retire as president and chief executive of the Washington-based organisation in December after 16 years in the role. ... The increasing concentration of assets in the hands of the so-called big three — BlackRock, Vanguard and State Street — has increased public scrutiny of fund groups and prompted debates ranging from systemic risk fears to antitrust concerns.”Financial Times 2/3/2020*FT articles become hard to access after a few hits. Clearing recent items in cache helps.
