Cloud-based platform will improve industry insights
The Investment Funds Institute of Canada has unveiled a new data collection and reporting platform for investment fund sales, assets, and fund attributes.
The cloud-based Fund Reporting and Intelligence System (FRITS) collects detailed data directly from member firms who represent 90% of ETF assets and 80% of mutual fund assets.
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It uses this data to provide industry totals including fund-level assets and detailed sales information across multiple sales metrics.
“FRITS is the largest investment fund data-sharing system in Canada, making it a key source of industry market intelligence,” said Paul C. Bourque, IFIC president and CEO. “Our enhanced platform will both accelerate IFIC’s reporting capabilities and provide our members with the information and analysis capability they need to operate effectively in a rapidly-changing market environment.”
The new platform replaces IFIC’s legacy system and enhancements include a faster turnaround of monthly reports and searchable database of fund attributes.
Further improvements to the FRITS platform are planned for the year ahead including the addition of fund series sales and fee information, expanded ETF coverage and the introduction of segregated and alternative fund coverage.
Fund managers who are IFIC members and contribute data can access the system without charge but there are subscriptions available for non-members.
