The Depository Trust & Clearing Corp. has streamlined the service it offers to fund companies looking to fund prospectuses. DTCC is also maintaining the information from this system, the Mutual Fund Profile Service, in a central repository that fund companies and their sales partners can reference. It includes such details as investment objectives, fee schedules, contingent-deferred sales charges and blue-sky information and commission data.
“The launch went flawlessly, with more than 100 fund companies participating and information on over 15,000 securities converted to the new service, which represents 86% of the total securities on our old system,” said Ann Bergin, managing director and general manager of DTCC’s wealth management services. “We have successfully laid the foundation for a single, comprehensive database that will become increasingly beneficial to the industry as we expand its uses and leverage its capabilities.”