WASHINGTON, Nov. 19, 2025 -- The Investment Company Institute (ICI) has submitted a letter to the Securities and Exchange Commission (SEC) outlining significant cost-savings estimates to support rulemaking that would allow funds to deliver documents to shareholders electronically on a default basis (e-delivery).
The new estimates ICI shared with the SEC show potential annual savings ranging from $589 million to $797 million per year for funds and their shareholders, with projected cumulative savings of $3 billion to $4 billion over five years, from transitioning to e-delivery. ICI data also found that fund investors overwhelmingly prefer to receive electronic delivery and support e-delivery, with 88% of fund investors agreeing that "as long as people can still request paper at no cost, it's a good idea to make e-delivery the default."
"ICI's data finds that—even using conservative estimates—American middle-class investors would save several billion dollars by switching to default e-delivery," said ICI President and CEO Eric Pan. "Not only is e-delivery cost efficient, investors want it. Our survey shows a vast majority of Americans support an e-delivery default. The SEC should follow the cost data and listen to investors to make e-delivery a reality."
Key points from ICI's letter:
- In addition to the cost savings noted above, a broad, industry-wide transition could save investors staggering amounts of money—much more than the $3 billion to $4 billion in savings over five years that ICI has estimated for funds alone.
- ICI recommends that the permitted means of electronic delivery should be flexible, technology-neutral, and evergreen.
- Investors must have the ability to elect paper delivery, or change their delivery elections, at any time.
- Funds delivering electronic documents should not be held to a higher standard than funds delivering paper documents. Once a fund sends an electronic document or notification, the fund's delivery obligation should be satisfied, consistent with standards for paper delivery.
Read ICI's full letter to the SEC here.
This News is brought to you by Qube Mark, your trusted source for the latest updates and insights in marketing technology. Stay tuned for more groundbreaking innovations in the world of technology.
