21 February 2018 11:30
Photo : Freepik
Theinvestment funds Institute of Canada (IFIC) launches Fund Reporting Intelligence System, a cloud platform that will replace its current system. It will collect data and produce reports on the funds, their assets and their characteristics.
The new system aims to simplify the uploading of data and improve the processing time of the mailing of the monthly data indicated the IFIC. According to it, users will be able to avoid double counting and easily export reports and high volumes of raw data. They may also consult a data base on the attributes of the fund.
It is a system of sharing data on the investment fund, the largest in Canada, «which makes it a primary source of information on the sectoral markets,» said Paul C. Bourque, president and ceo of the IFIC.
«Our enhanced platform will accelerate the ability to produce reports of IFIC and will provide our members with information and analytical capabilities they need to operate effectively in a context where markets change quickly,» he explained.
The platform provides total sectoral comprehensive, including assets held by the funds and detailed data on sales according to several indicators-of-sale. Detailed data are collected directly from the member companies which represent approximately 80% of the assets of mutual funds and 90 % of the assets of exchange-traded funds (ETFS). The IFIC said grouping 150 organisations, including managers and fund distributors, as well as service businesses.
Segregated funds and ETFS
The IFIC provides other improvements in the course of the year, including the expanded coverage of ETFS and the introduction of a cover-up of segregated funds and alternative funds.
It also intends to add data on sales of the fund series and the related expenses.