Historical Category Documents
In March 2014, the Canadian Investment Funds Standards Committee (CIFSC) approved the adoption of a share class categorization schema. The purpose of the schema is simple: to help users navigate the heterogeneous share class monikers. Investors can use the schema as a tool to determine which share class best suits their needs. Fund companies and researchers can use the schema to do a more rigorous analysis on funds.
The development of the share class categories has been a truly collaborative process during which feedback was received from numerous fund companies as well as the Investment Funds Institute of Canada. All comments were considered by the CIFSC and most were incorporated to develop the schema in its current form with two main guiding principles:
1. Share class categories were developed with the intent of providing consistency around the heterogeneous share class monikers used by fund companies. Ultimately, investors can use the share class categories to select funds based on their needs.
2. The data used to categorize share classes is completely self-reported by fund companies to the CIFSC member data providers. It is the CIFSC’s view that fund companies are in the best position to determine the target investor for each share class. The CIFSC will review classifications and contact the fund companies should there be questions about the categories chosen.