Source: http://archive-org.com/org/c/cifsc.org/2016-02-16_7523998_2/HISTORICAL_CATEGORY_DOCUMENTS_Canadian_Investment_Funds_Standards_Committee_CIFSC/
Timestamp: 2017-12-14 10:36:31
Document Index: 402982704

Matched Legal Cases: ['art 2013', 'art 2013', 'art 2010', 'art 2008', 'art 2006', 'art 2005', 'art 1']

archive-org.com: cifsc.org - HISTORICAL CATEGORY DOCUMENTS | Canadian Investment Funds Standards Committee(CIFSC)
HISTORICAL CATEGORY DOCUMENTS | Canadian Investment Funds Standards Committee(CIFSC)
first screens for the narrowest most precise definitions Examples of categories with narrow definitions would be Target Date Portfolios Financial Services Equity Real Estate Equity Small Mid Cap Equity and Alternative Strategies If funds meet the narrower definitions they are categorized in the appropriate CIFSC category If not the funds are subjected to the criteria of other fund categories Because this methodology is employed it is important to be aware of all fund category definitions It is insufficient to apply the criteria of a single fund category to determine a fund s candidacy for any given CIFSC category English French CIFSC Categories English French Click below to see current and previous category schemas 2015 2015 CIFSC Category Definitions 2014 2014 CIFSC Category Definitions 2014 CIFSC Category Flow Chart 2013 2013 CIFSC Category Definitions 2013 CIFSC Category Flow Chart 2013 CIFSC Category Alignments Announcement 2010 2010 Category Definitions Revised March 2011 2010 Category Flow Chart 2010 Category Changes Announcement 2008 2008 Category Definitions 2008 Category Flow Chart 2008 Category Revisions 2007 2007 Category Definitions 2007 Category Flow Chart 2006 2006 Category Definitions 2006 Category Flow Chart 2005 2005 Category Definitions CIFSC Categories English French Cliquez ci dessous pour voir les catégories
Original URL path: http://www.cifsc.org/mutual-fund-categories/historical-document/ (2016-02-16)
SHARE CLASSES | Canadian Investment Funds Standards Committee(CIFSC)
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
Original URL path: http://www.cifsc.org/share-classes/ (2016-02-16)
Original URL path: http://www.cifsc.org/share-classes/request-a-share-class-review/ (2016-02-16)
SHARE CLASS RECLASSIFICATION RESULTS | Canadian Investment Funds Standards Committee(CIFSC)
SUBMISSION HISTORICAL CATEGORY DOCUMENTS SHARE CLASSES DEFINITIONS REQUEST A REVIEW SHARE CLASSES RECLASSIFICATION RESULTS SHARE CLASSES NEWS ALERTS ABOUT ABOUT POLICIES AND PROCEDURES MEMBERSHIP FUND COMPANY CONTACTS CONTACT CONTACT SHARE CLASS RECLASSIFICATION RESULTS Home SHARE CLASSES SHARE CLASS RECLASSIFICATION RESULTS Results of Fund Classification Reviews Share Class Select a month to see the results of the Classification Reviews from that meeting MUTUAL FUND CATEGORIES THRESHOLDS HISTORICAL CATEGORY DOCUMENTS CHECK REVIEW
Original URL path: http://www.cifsc.org/share-classes/share-reclassification-results/ (2016-02-16)
NEWS & ALERTS | Canadian Investment Funds Standards Committee(CIFSC)
Definitions and Category Flow Chart Documents Posted March 15 2013 The CIFSC has revised the category definitions document as well as the category flow chart document to reflect the category changes that will be going into effect on April 1 2013 To view the revised documents please click CIFSC Category Definitions 2013 or CIFSC 2013 Category Flow 0 comments CIFSC Completes Quarter end Reclassification Review Posted January 31 2013 The CIFSC has completed its quarter end reclassification review The changes are based on data up to December 31st 2012 and will be reflected in the release of January 2013 month end data To see the results of the review please click here 0 comments CIFSC announces Committee Chair for 2013 Posted January 3 2013 The Canadian Investment Funds Standards Committee CIFSC has elected Brian Bridger Director Analytics and Data at Fundata Canada Inc as its Chair for the coming year effective January 1 2013 To see the press release please click here 0 comments CIFSC Category Alignments Announcement Posted December 31 2012 The CIFSC has completed a review of the current category structure in an effort to better and a more appropriately categorize funds All decisions are up for comment until January 30th at which time the committee will make a final decision on whether or not to proceed 0 comments CIFSC Completes Quarter end Reclassification Review Posted October 31 2012 The CIFSC has completed its quarter end reclassification review The changes are based on data up to September 30th 2012 and will be reflected in the release of October 2012 month end data To see the results of the review please click here 0 comments CIFSC Completes Quarter end Reclassification Review Posted August 8 2012 The CIFSC has completed its quarter end reclassification review The changes are based on data up to June 30st 2012 and will be reflected in the release of July 2012 month end data To see the results of the review please click here 0 comments CIFSC Revises Category Definitions Document Posted April 30 2012 The CIFSC has revised the category definitions document pertaining to the section regarding Sector Classifications To review or print the revised version of the document please click here 0 comments CIFSC Completes Quarter end Reclassification Review Posted April 30 2012 The CIFSC has completed its quarter end reclassification review The changes are based on data up to March 31st 2012 and will be reflected in the release of April 2012 month end data To see the results of the review please click here 0 comments CIFSC Announces changes to Policies and Procedures Posted February 29 2012 The CIFSC has made changes to the Policies and Procedures regarding the process for category changes under Section A Part 1 1 2 point 7 The new procedures will take effect immediately The new Policies and Procedures document is available here 0 comments CIFSC Completes Quarter end Reclassification Review Posted January 31 2012 The CIFSC has completed its quarter end reclassification review The changes are based on data up to December 31st 2011 and will be reflected in the release of Jan 2012 month end data To see the results of the review please click here 0 comments CIFSC announces Committee Chair for 2012 Posted January 31 2012 The Canadian Investment Funds Standards Committee CIFSC has re elected Reid Baker Senior Analyst Investment Analytics and Research at Fundata Canada as its Chair effective Jan 1 2012 To see the press release please click here 0 comments CIFSC Completes Quarter end Reclassification Review Posted November 2 2011 The CIFSC has completed its quarter end reclassification review The changes are based on data as of Sepemtember 30th 2011 and will be reflected in the release of Oct 2011 month end data To see the results of the review please click here 0 comments 2011 Category Changes Announcement Posted September 13 2011 Please be advised of the following category changes resulting from the Canadian Investment Funds Standards Committee s decision to remove the Science and Technology Equity category The Changes are based on data up to July 31st 2011 and will be reflected in the release of August 2011 month end 0 comments 2011 Category Revisions Posted August 8 2011 The Canadian Investment Funds Standards Committee CIFSC has completed a review of the Science Technology Equity category and has made the decision to remove the category For more information please click here 0 comments CIFSC Completes Quarter end Reclassification Review Posted August 8 2011 The CIFSC has completed its quarter end reclassification review The changes are based on data as of June 30st 2011 and will be reflected in the release of July 2011 month end data To see the results of the review please click here 0 comments 2011 Category Changes Announcement Posted July 13 2011 The CIFSC has reviewed the category schema and will be making the following changes For more information please click here 0 comments CIFSC Completes Quarter end Reclassification Review Posted May 6 2011 The CIFSC has completed its quarter end reclassification review The changes are based on data as of March 31st 2011 and will be reflected in the release of April 2011 month end data To see the results of the review please click here 0 comments CIFSC Completes Quarter end Reclassification Review Posted February 7 2011 The CIFSC has completed its quarter end reclassification review The changes are based on data as of December 31st 2010 and will be reflected in the release of January 2011 month end data To see the results of the review please click here 0 comments CIFSC Introduces New Chair Posted January 28 2011 The Canadian Investment Funds Standards Committee CIFSC has introduced Reid Baker Analyst Investment Analytics and Research at Fundata Canada as its Chair effective Jan 1 2011 To see the press release please click here 0 comments CIFSC Completes Quarter end Reclassification Review Posted November 4 2010 The CIFSC has completed its quarter end reclassification review The changes are based on
Original URL path: http://www.cifsc.org/news-alerts/ (2016-02-16)
ABOUT | Canadian Investment Funds Standards Committee(CIFSC)
and research firms with a self imposed mandate to standardize the classifications of Canadian domiciled retail mutual funds Prior to the Committee s creation there had been a proliferation of mutual fund listings and analysis services which created confusion and made fund comparisons difficult for investors and other market participants Each of the participating firms permitted their respective databases and analysis capabilities to be used in this categorization project Building from classification schemes that had been previously developed by individual members the Committee developed the basis of the current fund classification scheme While the Committee recognizes that no fund category scheme is suited for all purposes establishing and maintaining a standard is nonetheless considered essential for the mutual fund investor The categories are in a constant state of review and as such the Committee extends an invitation for comments from all investment fund industry participants CIFSC is made up of leading investment fund data publishing and analysis firms consultants and other industry participants Fund managers and distributors are not permitted to be direct members of the Committee although input from these participants is received through membership of their representative trade associations The Committee welcomes interested parties that are directly involved
Original URL path: http://www.cifsc.org/about/ (2016-02-16)
of 1 year after which a new subcommittee will be formed 4 Membership for the subcommittee will be on a volunteer basis and will be formed in conjunction with the election of the new Chair 5 Members are not restricted from remaining on the subcommittee for multiple terms STANDARDS FOR COMMUNICATING GENERAL BUSINESS The Communications Subcommittee subcommittee will follow these guidelines when communicating regular business 2 1 New Funds 1 The subcommittee will communicate the classifications of new funds by posting the decisions on the committee s website within 5 business days of the decision date 2 2 Requests for Classification Reviews 1 The subcommittee will send an email confirmation of receipt to the party that submitted the request within 5 business days of receiving the request The email confirmation will include an initial review indicating if the request is valid i e a rationale and supporting evidence have been included 2 The subcommittee will notify the party that submitted the request of any decisions within 5 business days of the decision date The notification will include the decision itself along with an explanation of the decision 3 The subcommittee will post all reclassification decisions on the committee website within 5 business days of the decision date 2 3 Quarterly Review 1 The subcommittee will communicate the results of the quarterly reviews by sending an email to all fund company contacts whose funds were affected by the results of the quarterly review This communication will take place at least 5 business days prior to the results being finalized 2 The subcommittee will post the results of the quarterly reviews on the committee website within 5 business days of the results being finalized STANDARDS FOR COMMUNICATING OTHER BUSINESS The Communications Subcommittee subcommittee will follow these guidelines when communicating other business 3 1 Feedback Form 1 The subcommittee will respond to all feedback inquiries within 10 business days of receiving the feedback 3 2 Chair Election 1 Results of the election of the committee chair are to be communicated to the media by way of a news release and within 3 business days of the results being final The results will also be posted on the committee s website MEDIA COMMUNICATIONS 1 CIFSC news events are only to be disseminated by the Chair or some other member as designated by the Chair 2 The subcommittee will assist the Chair in crafting and disseminating CIFSC news releases CATEGORY CLASSIFICATION PRINCIPLES 2 1 Guiding Principles of Fund Category Classification 1 The CIFSC Category classifications are based on a combination of both quantitative and qualitative factors Due to the number of funds in the Canadian investment fund universe the classification process is largely a quantitative exercise However the final category assignments are up to the judgment of the CIFSC committee a Quantitative factors Funds are classified based on the way they actually invest In many cases a fund s name or stated intentions do not reflect the way the fund is actually invested For this reason the CIFSC Category classification process rests heavily upon the holdings data for each fund Thus if the CIFSC member firms do not have holdings data for a fund the committee cannot assign the fund to a category and it will be placed the Miscellaneous Undisclosed Holdings category b Qualitative factors The committee will review any other information i t believes is relevant to assessing a fund s risk profile and making an appropriate classification For example the committee will factor in the impact of currency hedging positions for fixed income holdings since this impacts the risk profile of the fixed income security Another common example is considering the intentions of the fund manager For instance a fund with 89 Canadian equity exposure that falls just shy of the 90 minimum to meet the Canadian Equity category could be reclassified if the manager demonstrates that he or she has made changes to meet the 90 limit and intends to manage the fund to the category rules These are just two examples of qualitative factors that the CIFSC considers when classifying investment funds 2 The most appropriate CIFSC Category classification for any given fund is one that a Places a fund in a category with the most similar risk factors e g sector risk liquidity risk pre payment risk credit risk etc Note that risk factors are not equivalent to volatility measures such as standard deviation or beta While the CIFSC in no way suggests that such volatility measures be ignored for classification purposes emphasis must be placed on the risk factors that a fund is subject to b Allows for the most relevant performance comparisons CATEGORY CLASSIFICATION PROCEDURES 3 1 New Fund Review 1 An investment fund is considered new from the date of its inception Once the fund has registered with at least one of the data provider firms on the CIFSC the fund is brought to the next regular meeting for placement into the most appropriate category The committee will estimate the most appropriate category based on the fund s stated intentions as described in the fund s investment objective and strategy If the committee cannot approve or deny placement of a fund into the requested category due to a lack of detailed information in the investment objective the fund will be placed into a Miscellaneous category The fund will remain in the Miscellaneous category until such time that the committee receives enough information about the fund s investment objective to assign it to a category 2 After the fund has been placed in the most appropriate category the fund will remain in this category for a period of no longer than 12 months since inception after which it will become subject to quarterly fund reviews The 12 month period is given to allow time for the fund to build its portfolio to a point that is reflective of its ongoing fundamental investment objective and to allow time for the fund to provide the CIFSC with regular statements
Original URL path: http://www.cifsc.org/about/policies-and-procedures/ (2016-02-16)
MEMBERSHIP | Canadian Investment Funds Standards Committee(CIFSC)
a firm and member firms can have multiple representatives In January of each year the committee will review its membership Fundata Canada Reid Baker Director Analytics Data Committee Chair Brian Bridger Senior Director Analytics Data John Krisko Analyst Analytics Data Morningstar Canada Christopher Davis Director of Fund Analysis Canada Active Funds Research Achilleas Taxildaris Analyst Manager Research Paul Min Data Analyst CANNEX Financial Exchanges Sandy DiGiorgi Investments Funds Manager Alex
Original URL path: http://www.cifsc.org/about/membership/ (2016-02-16)