The Investment Funds Institute of Canada is taking its statistics system online.

IFIC says this new system will increase efficiency and allow users to access and analyze industry statistical data more effectively. Fund managers will submit their sales data directly into the database, and IFIC members will eventually be able to access historical industry statistics and perform basic statistical analysis.

In September 2000, IFIC launched its members-only extranet portal. The new statistics system will be available on this site, but will also be available to the investing public and through its public site.

“IFIC is continuously aiming to improve the services we provide and this new statistics system is a testament to IFIC’s efforts to reach this goal,” stated Tom Hockin, IFIC president and CEO. He added, “IFIC members, the media and the investing public will find this new service to be a valuable tool in their research efforts.”

IFIC has also launched a preliminary statistics report which will be published within the first few days of each month, reflecting estimated net assets and net sales of many industry fund managers for the previous month. “IFIC’s preliminary report is an effort to co-ordinate and streamline the release of preliminary numbers by our manager members to the media and the public,” said Hockin. “In addition, this report helps to alleviate regulatory concerns about disclosure, as numbers for all participating companies will be released at the same time,” he added.