The Investment Funds Institute of Canada (IFIC) announced Feb. 20 the launch of its new cloud-based data collection and reporting platform for investment fund sales, assets and fund attributes.
The Fund Reporting and Intelligence System (FRITS) provides industry totals, including fund-level assets and detailed sales information. Data is collected directly from IFIC member firms that represent approximately 80 per cent of mutual fund assets and 90 per cent of exchange traded fund (ETF) assets.
Largest investment fund data-sharing system
“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 will replace IFIC’s current legacy data system. Additional enhancements planned for 2018 include the addition of fund series sales and fee information, expanded ETF coverage and the introduction of segregated and alternative fund coverage, says IFIC.