The European Fund and Asset Management Association (EFAMA) is set to expand the number of funds covered by its European Fund Classification (EFC) system, in efforts to create more complete peer groups and aid meaningful comparisons between products.
EFAMA's EFC is a pan‐European classification system of investment funds, which allows for comparison of funds with comparable investment strategies, and ensures transparency for investors and fund management companies. EFAMA director general De Proft to step down after 11 years It also involves the regular monitoring of holdings by a neutral classification administrator, while fund groups can have their funds classified for free and the results are provided to the market free of charge. Moreover, EFAMA said the growth of cross-border fund distribution has heightened the need fo...
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