Matrix-Data is developing an industry-wide database for fund management groups to identify where the...
Matrix-Data is developing an industry-wide database for fund management groups to identify where their business is coming from and profile intermediaries.
The group is in early stage discussions with fund management houses and hopes to have the service, called FundBase, in place by early next year for the 2004 Isa season.
FundBase would involve fund management groups pooling their administrative data. By obtaining regular feeds from participating fund groups, the service should be able to estimate the size of the market and each group's share of it.
Information is to be provided on individual funds in the marketplace, as well as sectors, and wrappers. Data will be updated monthly and applies to both investment trusts and open ended funds.
Although individual IFA clients will not be named or identified, information such as their address at postcode sector level, down to nearest 1,000-2,000 households, and age will be entered.
This will help establish a customer profile and determine trends in the sales of particular funds. Other information that will be available on FundBase will be the route that clients took to market and the spread of other investments.
The data will be supplied by fund management groups and IFAs will not be required to provide any additional information. IFAs will not have direct access to the results. However, they may be able to access information that is relevant to them via fund providers.
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