28/10/2011
By Adam Cadle
The European Fund and Asset Management Association (EFAMA) is nearing a complete European fund classification (EFC) structure.
According to the second edition of its EFC forum briefing, the ‘high level’ categories under which the detailed sector classifications will be grouped have been finalised.
The 5,822 funds classified by the EFC will be segmented according to eight criteria: country/region, sector, market capitalisation, currency, credit quality, interest rate, emerging market exposure and asset allocation.
The role of the EFC is to provide a structure for all industry stakeholders addressing transparency issues and regularly monitors every investment fund available for sale in multiple jurisdictions.
Director general of EFAMA Peter de Proft said: “The financial crisis highlighted the need for the fund industry to inform, protect and listen to investors and the EFC initiative to improve transparency is a message to European authorities, investor associations and the public that the industry is taking action to advance the protection of investors.”
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