Significant Events in Fund History

SIGNIFICANT EVENTS IN FUND AISTORY Dutch merchant and broker Adriaan van Ketwich invites subscriptions from investors to form a trust, the Eendragt Maakt Magt, with the aim of providing investment diversification opportunities to investors of limited means. 1774 1868 The Foreign and Colonial Government Trust, the precursor to the U.S. investment fund model, is formed in London. This trust provides "the investor of moderate means the same advantages as large capitalists." Foreign O Colonial INVESTMENT TRUS T 1924 The first mutual funds are established in Boston 1933 The Securities Act of 1933 regulates the registration and offering of new securities, including mutual fund and closed-end fund shares, to the public. The Revenue Act of 1936 (signed into law by President Franklin D. Roosevelt) establishes the tax treatment of mutual 1936 funds and their shareholders. Closed-end funds were covered by the Act in 1942. The total number of mutual funds 100 1951 surpasses 100, and the number of shareholder accounts exceeds one million for the first time. 1955 The first U.S.-based international mutual fund is introduced 1974 The Employee Retirement Income Security Act (ERISA) creates the individual retirement account (IRA) for workers not covered by employer-sponsored retirement plans. IRA The Tax Reform Act of 1976 (signed into law by President Gerald Ford) permits the creation of municipal bond funds. The first retail index fund is offered. 1976 1978 < The Revenue Act of 1978 creates new 401K Section 401(k) retirement plans and simplified employee pensions (SEPS). 1990 Mutual fund assets top $1 trillion .05 ETFS 1993 The first exchange-traded fund (ETF) shares are issued by State Street. kkt.83 -6 ENCHANGE The SEC approves the most significant disclosure reforms in the history of U.S. mutual funds, encompassing "plain English," fund profiles, and improved risk disclosure. 1998 TIES AND ICMXXNIN 2003 The Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) provides mutual fund shareholders with the full benefits of lower tax rates on dividends and capital gains. Enactment of the Pension Protection Act (PPA) (signed into law by George W. Bush) and the Tax Increase Prevention and Reconciliation Act provides incentives for investors of all ages to 2006 PROTECTING YOUR RETIREMENT save more in tax-deferred and taxable. 2012 Mutual fund assets top $13 trillion 2013 Retirement assets hit a record high of $23 trillion SEE HOW KURTOSYS MAKES FUND MARKETING EFFICIENT, INTERACTIVE AND BEAUTIFUL AT WWW.KURTOSYS.COM/FUNDMARKETING KURTOSYS Sources: ICI http://www.ici.org/research/stats/factbook | Wikipedia BEAUTIFUL SOFTWARE