FundsXML

A European Data Delivery Standard for

Investment Information - an enhancement for

Data Management

Dr. Carsten LüdersSenior Vice-PresidentHead of Research and Market Analysis

BVI Bundesverband Investment

und Asset Management e.V.

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Agenda

I. Total number of funds in Europe

IV. The development of FundsXML - from a national solution to a quasi European standard

II. Data exchange between market participants

III. The main objectives of FundsXML

VI. Organisation, users and projects of FundsXML

Total number of funds in Europe

21,498

37,607

40,89243,071 43,090 43,514 44,498

47,354

51,17553,802

52,064 52,636

1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Source: BVI, EFAMA

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Agenda

I. Total number of funds in Europe

IV. The development of FundsXML - from a national solution to a quasi European standard

II. Data exchange between market participants

III. The main objectives of FundsXML

VI. Organisation, users and projects of FundsXML

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Data exchange between market participants

Depositary bankServices

Data vendors

Associations

Investment company

OfficialDelivery commitments

Ratingagencies

Investment company

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Agenda

I. Total number of funds in Europe

IV. The development of FundsXML - from a national solution to a quasi European standard

II. Data exchange between market participants

III. The main objectives of FundsXML

VI. Organisation, users and projects of FundsXML

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The main objectives of FundsXML

FundsXML is a standardized data format for exchanging fund information

It facilitates a wide range of business processes in the fund industry

The initial focus is on sales and reporting activities

The reporting obligations of the investment companies may be covered by FundsXML

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The main objectives of FundsXML

Keep the organisation flexible and cost-efficient

Protect investments in IT systems based on the standard

Coordinate the initiative with similar international standards

Stimulate national and international acceptance of the standard

Invite third parties to participate in (further) developing the standard

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The main objectives of FundsXML

Protect the intellectual property from abuse (license requirements) and secure its legal status

• the name FundsXML has a copyright at EU level for the next ten years

• this copyright was done by FundsXML France in the name of the FundsXML Standards Committee.

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The main objectives of FundsXML

FundsXML can contribute to cost reductions

cost reductions in the development of an interface

• several interfaces are replaced by one single interface

• easy installation and data distribution

cost reductions for maintenance

• only one interface has to be supervised and adjusted

• customer‘s requirements can be implemented more easy and faster

Higher data quality

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The main objectives of FundsXML

FundsXML is based on XML – a modern standard for data description

• XML is widely accepted and supported

• XML can be converted easily to different data formats

It is an open source product

System-independent

• independent of the operating system

• independent of the programming language

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Agenda

I. Total number of funds in Europe

IV. The development of FundsXML - from a national solution to a quasi European standard

II. Data exchange between market participants

III. The main objectives of FundsXML

VI. Organisation, users and projects of FundsXML

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The development of FundsXML - from a national solution to a quasi European standard

Leading German investment companies:

Allianz Global, COMINVEST (now AGI), CREDIT SUISSE ASSET MANAGEMENT, DEKA, DWS, UNION

The Swiss investment company Vontobel

The software provider K&W Software AG

The asset management company and the data providerFERI TRUST

started the initiative in 2001

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The development of FundsXML - from a national solution to a quasi European standard

BVI supports FundsXML as data delivery standard since 2003

Next members of FundsXML Standards Committee:

October 2006: the Austrian investment association VÖIG as well as Erste Sparinvest and the OeKB

April 2007: Robeco from the Netherlands

September 2008: DIAMS (FundsXML France) and the Danish investment association IFR join the initiative.

November 2009: La Banque Postale Asset Management

April 2010: The French investment association (AFG)

November 2010: Finesti from Luxemburg

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Agenda

I. Total number of funds in Europe

IV. The development of FundsXML - from a national solution to a quasi European standard

II. Data exchange between market participants

III. The main objectives of FundsXML

VI. Organisation, users and projects of FundsXML

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The organisation of FundsXML.org

The “FundsXML Standards Committee” (FSC) as the highest-decision-making body

Working Groups

FundsXML Charta defines a minimum of structures and procedures

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Use and users of FundsXML

Supply of distribution partners

• enables the daily data recall via web services

• data basis for reporting

Supply of information provider as multiplicators for fund data

Data basis for sales supporting software

Data delivery for legal reporting obligations

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The variety of information of FundsXML version 3.0.3

The latest version 3.0.3 can be used for:

The data delivery to the central banks in Germany and Austria

Data delivery for all BVI statistics

VAG-Reporting

Reporting for the Austrian law for pension funds

Reporting obligations concerning Basel II

Shadow accounting

An extended data base for sales

Reports to data providers like Thompson Reuters, Bloomberg, Morningstar, FundConnect

Fund Processing Passport

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FundsXML – current projects

Creation of a new FundsXML Data Dictionary

Integration of the relevant data fields for Key Investor Document (KID)

Data fields for the creation of annual and semi-annual prospects

Integration of data fields for an entire data exchange between depositary banks and investment companies

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Dr. Carsten Lüders

Senior Vice-President

Head of Research and Market Analysis

BVI Bundesverband Investment und Asset Management e.V.

Eschenheimer Anlage 28

60318 Frankfurt am Main

Phone: +49 69 / 15 40 90-2 24

E-Mail: carsten.lueders@bvi.de

THANK YOU FOR YOUR ATTENTION!