SIFMA President Criticizes IMF's Financial System Stability Assessment that Targets the Asset Management Industry

SIFMA issued a statement criticizing the International Monetary Fund ("IMF") Financial System Stability Assessment. The Assessment focused on investment funds such as mutual funds, exchange traded funds and pension funds.

SIFMA president and CEO Kenneth E. Bentsen, Jr., stated that IMF's Assessment made assertions about risks posed by mutual funds that are "not backed by empirical evidence or analysis." Moreover, he asserted that "speculative and unsubstantiated reports that target asset managers and disregard basic facts about the industry could hamper managers' ability to serve investors, and disrupt the broader capital markets system."