Bill 118 HRES 1587, also known as the Honoring the 100th Anniversary of Mutual Funds resolution, was introduced in the US Congress to commemorate the centennial anniversary of the creation of mutual funds. Mutual funds are investment vehicles that pool money from multiple investors to invest in a diversified portfolio of securities, such as stocks and bonds.
The resolution recognizes the significant impact that mutual funds have had on the financial industry and the economy as a whole over the past century. It acknowledges the role that mutual funds play in providing individuals with access to professionally managed investment opportunities and helping them achieve their financial goals.
The resolution also highlights the importance of investor protection and transparency in the mutual fund industry, calling for continued efforts to ensure that investors are informed and protected when investing in mutual funds.
Overall, Bill 118 HRES 1587 aims to celebrate the success and longevity of mutual funds as a valuable investment tool for individuals and institutions alike. It emphasizes the need for continued innovation and regulation in the mutual fund industry to uphold its integrity and benefit investors for another 100 years.