The Securities and Exchange Commission issued its final rule on Thursday to allow mutual funds, beginning Aug. 20, to voluntarily submit their risk/return summaries with extensible business reporting language (XBRL) data tagging.

The risk/return summary in fund prospectuses includes information about a fund’s investment objectives and strategies, risks, costs and historical performance. The XBRL-tagged summaries are supplemental to the traditional prospectuses that funds must continue to submit as Form N-1A. The aim is to permit investors to more readily tap into this information and compare it across funds.

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