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.

2 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 Source: BVI, EFAMA

4 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

5 Data exchange between market participants Depositary bank Services Data vendors Associations Investment company Official Delivery commitments Rating agencies Investment company

6 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

7 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

8 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

9 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.

10 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

11 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

12 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

13 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

14 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

15 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

16 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

17 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

18 The variety of information of FundsXML version The latest version 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

19 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

20 Dr. Carsten Lüders Senior Vice-President Head of Research and Market Analysis BVI Bundesverband Investment und Asset Management e.V. Eschenheimer Anlage Frankfurt am Main Phone: / THANK YOU FOR YOUR ATTENTION!