Newsletter

Newsletter No. 21

July 03, 2012

With this newsletter, we are pleased to update you on the latest developments concerning fundinfo.com.

fundinfo Operating at Full Capacity in the Processing of KIIDs

Vast number of Key Investor Information Documents to be processed

The deadline for supplying Key Investor Information Documents (KIIDs) is 1.7.2012, by which date the new documents must be available* for all funds sold in Europe. Given that KIIDs are produced for each ISIN and country individually, fundinfo is currently receiving an avalanche of documents that need checking and uploading in the shortest possible time frame.

While the average number of fund documents processed daily up until the end of 2011 was 4,000, the figure has rocketed to more than 60,000 documents per day in recent weeks: Many fund houses have decided to take full advantage of the one-year transition period and prepare and supply the new documents just a few weeks—or, in some cases, days—before the Deadline.

Our data and document management team is working full out to process the current deluge of fund documents as quickly and efficiently as possible. Unfortunately, however, bottlenecks are inevitable. fundinfo’s primary focus is on supplying KIIDs for large international fund distributors: we are doing our utmost to achieve the broadest possible coverage of fund documents relevant to large distributors by 1.7.2012 whilst ensuring that all fund houses are dealt with equally. For this reason, we are in close contact with distributors in order to manage priorities as best as possible.

 

Delivery of documents to fundinfo

fundinfo operates the leading hub for the dissemination of original fund documents in Europe and Asia. In order to ensure the highest quality, when the platform was launched, we decided, and made a commitment to our distributors, to collect fund documents exclusively from fund houses or their sources.

However, in order to overcome the current bottleneck in document processing, in a departure from the current rule, we shall be allowing solutions agreed on a case-by-case basis and, in individual cases, shall be processing KIIDs from other sources as well for initial deliveries during a transition period ending mid September. After this transition period has elapsed, we shall revert to the original rule and collect fund documents only from fund companies or their sources.

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*For Swiss-domiciled funds approved prior to 15 July 2012, the transition period will end on 14 July 2014.

 

fundinfo Launch Event in Spain

The launch event for fundinfo in Spain took place in Madrid on 7 June 2012 and was attended by 100 participants from the Spanish fund industry. Organised in collaboration with our partner Kessler & Casadevall AF, the event was our official presentation to the Spanish fund community and was a great success. The universe of funds registered in Spain has been online on www.fundinfo.com now since May 2012.

 

Cooperation with the Institute of Financial Planners of Hong Kong

The Institute of Financial Planners of Hong Kong (IFPHK) signed an agreement with fundinfo in Asia in May 2012.

This new partnership is expected to provide Hong Kong investors free access to more than two million fund documents, which include fund prospectuses, financial statements, monthly reports, as well as key fact statements of most unit trusts sold in Hong Kong, at one online location: the www.ifphk.org portal. This increases the transparency and extends the reach of the information provided.

 

Update concerning the cooperation with Finesti

fundinfo’s and Finesti’s objective is to improve the quality of services for their clients, whereby fundinfo deals primarily with dissemination of fund documents to distributors, and Finesti primarily with notification to financial market authorities.

Here you find the answers to the most common questions:

Q: To which company should documents be sent?
A: To both companies: fundinfo and Finesti both follow the same procedure in an endeavour to reduce costs for their clients.

Q: Why can’t documents be sent to a single partner?
A: – Finesti and fundinfo have different scopes with regard to document types and country coverage;
– Delivery of your documents to two separate entities allows more extensive quality checks;
– fundinfo has been instructed by its clients to obtain documents directly from their source.

Q: Surely, delivery to two entities means double the costs?
A: No. With fundinfo, at least, the fund company does not pay for document delivery but only for distribution to public platforms. In any event, fundinfo supplies your documents to its business partners (e.g. UBS, Credit Suisse, Deutsche Bank (Schweiz) AG and more than 100 others) regardless of whether or not the joint fundinfo/Finesti client pays for distribution.

 

fundinfo Goes Live in Spain

We are pleased to inform you that we went live with the database for Spain on www.fundinfo.com on 3 May 2012. As a result, users of our platform can now access the fund documents, data, ratings and videos for funds registered for sale in Spain.

fundinfo has been working together with Kessler & Casadevall AF for the provision of fundinfo’s services in Spain and Portugal since the beginning of 2011. The going live of www.fundinfo.com in Spain is part of our ongoing expansion of business activities on the Iberian Peninsula.

 

Paperboy Goes Live

We are pleased to announce that our new “Paperboy” platform for fund documents (paperboy.fundinfo.com) went live on 3 May 2012 and replaces the platform kiid.fundinfo.com.

The most important new features are the following:

  • On Paperboy you will find additional document types such as monthly factsheets and all legal documents (prospectuses, simplified prospectuses, annual reports, semi-annual reports, product highlight sheets for Singapore and key fact statements for Hong Kong).
  • You may request an initial delivery, whereby you will receive within 24 hours an email with all the documents pertaining to the funds to which you have subscribed.
  • The platform presents other new features when you use Paperboy in the capacity of fund provider to dispatch fund documents in so-called “push mode”. These functions are available to clients using Paperboy with administrator rights. We will be happy to provide more information about these new features.

User guide to the platform: Paperboy – User Guide for Distributors

We hope you enjoy using our new Paperboy platform!

New Members

The number of fund houses on our client list is constantly growing. We are proud to present the following new members of fundinfo.com:

The latest fundinfo Members and Premium Members are the following:

–       Standard Life Investment
–       Callander Fund
–       Wellington Global Administrator
–       Bank Leumi
–       Universal Investment
–       Aphilion
–       PKB Privatbank AG
–       Fulcrum Asset Management
–       Generali Investment
–       Trinity Street Funds

We would like to take this opportunity to thank all of our clients for their collaboration and trust.
We welcome any suggestions, requests and questions, which will help us continue to improve fundinfo.com and make our fund platform as useful and valuable a tool as possible.

Yours faithfully,

Your fundinfo.com team

 

We would like to take this opportunity to thank the following premium members for their support:

Global Premium Member
Amundi AXA Investment Managers BlackRock Clariden Leu
Credit Suisse AM Deka Dexia DWS
Invesco J.P. Morgan Asset Management Lombard Odier Morgan Stanley
Neuberger Berman Nordea Schroders Swiss & Global Asset Management AG
UBS Vontobel
Country Premium Member
Aberdeen Allianz Global Investors BNP Paribas Investment Partners Fidelity
Franklin Templeton IFM Independent Fund Management AG M&G Investments Pictet
Pioneer Investments Robeco Skandia Sparinvest
VP Bank