WASHINGTON, D.C. -- Investment Company Institute president and chief executive Paul Schott Stevens said Wednesday that mutual funds need to make investments in commodities and derivative securities such as futures contracts in order to manage market swings and protect returns of the everyday investors that want the kind of “skills and insights” otherwise “available only to the wealthiest Americans.”

“In today’s markets, it’s difficult to meet that promise efficiently without using options, futures, swaps, and other derivatives,’’ he said, in keynote remarks that opened ICI’s general membership meeting here. “Funds use these tools to manage risks; to invest more efficiently; and to gain investment exposures to stocks in some foreign markets that are difficult or costly to access directly. “

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