The Canadian Investment Funds Standards Committee (CIFSC) today released an updated version of its Retail Investment Fund Categories for public review and comment. Comments and feedback on the new categories will be welcomed until May 11th and the CIFSC expects to release final versions of the new categories in early June.
The CIFSC’s mandate is to create and maintain a single objective, standardized, transparent and consistent set of investment fund categories for the benefit of investors and other participants in the Canadian investment fund industry. As such, it is committed to reviewing the category definitions annually to ensure they remain up to date and reflective of the range of investment fund products available.
“The official rollout of these new category definitions will represent the return to a single fund category standard for Canadian investment funds, making Canada one of the few jurisdictions in the world with such a standard in place.” said Chris Adair, Chair of the CIFSC. “We look forward to receiving feedback from any interested parties on our new categories and to the eventual release of the updated category definitions once the feedback that is received has been taken into account.”
Copies of the new category definitions and related information on the CIFSC can be found at: http://www.cifsc.org
For comments on the new categories or other matters, the committee can be reached via email at: http://www.cifsc.org/en/feedback.php
For further information, contact:
Chair of CIFSC
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.