FundsXML
A European Data Delivery Standard for
Investment Information - an enhancement for
Data Management
Dr. Carsten Lüders
Senior Vice-President
Head of Research and Market Analysis
BVI Bundesverband Investment
und Asset Management e.V.
Agenda
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I.
Total number of funds in Europe
II.
Data exchange between market participants
III.
The main objectives of FundsXML
IV.
The development of FundsXML - from a national solution
to a quasi European standard
VI.
Organisation, users and projects of FundsXML
Total number of funds in Europe
53,802
51,175
52,064 52,636
47,354
44,498
43,071 43,090 43,514
40,892
37,607
21,498
1995
2000
Source: BVI, EFAMA
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Agenda
4
I.
Total number of funds in Europe
II.
Data exchange between market participants
III.
The main objectives of FundsXML
IV.
The development of FundsXML - from a national solution
to a quasi European standard
VI.
Organisation, users and projects of FundsXML
Data exchange between market participants
Depositary bank
Services
Investment company
Associations
Rating
agencies
Official
Delivery commitments
Data vendors
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Investment company
Agenda
6
I.
Total number of funds in Europe
II.
Data exchange between market participants
III.
The main objectives of FundsXML
IV.
The development of FundsXML - from a national solution
to a quasi European standard
VI.
Organisation, users and projects of FundsXML
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
12
I.
Total number of funds in Europe
II.
Data exchange between market participants
III.
The main objectives of FundsXML
IV.
The development of FundsXML - from a national solution
to a quasi European standard
VI.
Organisation, users and projects of FundsXML
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 provider
FERI 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
15
I.
Total number of funds in Europe
II.
Data exchange between market participants
III.
The main objectives of FundsXML
IV.
The development of FundsXML - from a national solution
to a quasi European standard
VI.
Organisation, users and projects of FundsXML
The organisation of FundsXML.org
 The “FundsXML Standards Committee” (FSC) as the highest-decisionmaking 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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THANK YOU FOR YOUR ATTENTION!
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
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