Former ICI chief Matthew Fink is working on a second edition of his book, The Rise of Mutual Funds, which was first published in October 2008.

Matthew Fink

The release date for the new edition is tentatively scheduled for September, Fink told The MFWire in an interview. Oxford University Press is the publisher.

The book chronicles the developments in the mutual fund industry, with those occurring after 1970 reflecting Fink's firsthand experience. Fink, who turned 69 last week, spent 34 years at the ICI before retiring in 2004. He served as the trade group's president for 13 years.

A new chapter set to appear in the second edition will address key events that took place after January 2008, when Fink submitted the manuscript for the initial edition. Fink finished the manuscript for the second edition last month.

"There will be a chapter covering the financial crisis and its impact on the mutual fund industry, the Reserve Primary fund breaking the buck, the proposed changes to 401(k) regulation, and the fate of the SEC," Fink said.

There will also be updates to other parts of the book. "There are things I learned about afterwards and things I forgot to put in," Fink said.

In addition, the new edition will correct errors, such as typos, that appeared in the first edition.

When the first edition came out, "my mother, then 95 years old, called my wife and said, 'Tell Matthew there's a terrible error in his book,'" Fink recalled.

Turns out the word "harassment" was misspelled on page 101 -- it appeared with two Rs -- and the error somehow slipped past Fink, the book's publisher and eight other readers including law professors, mutual fund attorneys and executives, who saw a copy of the book before it went to press. 

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