The Canadian Investment Funds Standards Committee (CIFSC) today posted on its website, www.cifsc.org, the list of funds classified in the new 2007 CIFSC category system.
The list is the final step in the rollout of the new fund classification system for Canadian mutual funds and provides investors with a first-hand look of how their funds are now classified.
After months of co-operative efforts among the nation’s leading mutual fund data providers, the CIFSC has reestablished itself as the single source of fund categories across Canada.
“The release of the 2007 CIFSC category system represents a significant milestone for the CIFSC in its ongoing goal to develop a single, consistent set of categories for the benefit of investors and fund industry participants alike.” said Chris Adair, Chair of CIFSC. “The fact that the feedback on the new category system has generally been very positive is a credit to all of the hard work that has gone into the development of the new category system and to the consultative approach that the committee took in developing its new category system.”
The classification of funds is an on-going process that the CIFSC reviews monthly for re-classification requests and quarterly for full fund reviews.
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CIFSC is a volunteer organization, made up of competing yet collaborative organizations, committed to the goal of a single, objective and standardized investment fund classification system for use across Canada. Its current membership includes representatives from the Canadian Life and Health Insurance Association, Cannex Financial Exchanges, FP Datagroup, Fundata Canada, FundSERV, The Globe and Mail, The Investment Funds Institute of Canada, Lipper, Morningstar Canada and individual consultants. More information is available at www.cifsc.org.