WASHINGTON It was a first for the largely introspective ICI: Uncut, plain-speaking videotapes of investors on their mutual fund holdings and, all too often, a dim view of the industry (see ICI Rolls Unvarnished Shareholder Videotape, www.mmexecutive.com, 5/12/05).

The overall mood at the Investment Company Institutes general membership meeting this year was an optimistic return to business as usual. Even the entertainer for the big dinner at Union Station, comedian Greg Giraldo, got executives to laugh at themselves with a joke about selling mutual funds to any homeless folks outside the station.

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