​ Mutual Funds Are Still the Biggest and Best Deal in Financial Services. At the Investment Company Institute'​s annual meeting, ICI Chairman and President of AMVESCAP Martin Flanagan summarized why mutual funds are still the biggest and best deal in the financial services indutry. He said, "​In 1980, registered investment companies held nearly 3 percent of the financial assets of American households. In 2006, that figure was over 23 percent.... That'​s more than bank deposits, more than insurance policies, more than the individual securities in brokerage accounts. Investment in funds has grown because they provide the average American investor tremendous benefits. For a small investment, at a relatively low cost, an investor receives: A diversified portfolio; Professional investment management; Liquidity; and A wide range of choices and service levels. In my view, mutual funds provide the best value in financial services."

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