By July 2011, mutual funds in Canada must be fully compliant with the regulations set forth by Point of Sale Disclosure, which requires mutual fund companies to file a "Fund Facts" document for each share class or series of funds for investors. The Fund Facts document itself must be deemed "easy-to-read" and include specific information such as a description of the fund, the performance and the risks, as well as any charges associated with the fund.

"The reform to Point of Sale Disclosure in Canada is putting intense pressure on firms to make sure they are able to generate accurate Fund Facts documents in a timely manner," comments Ronan Brennan, CTO of MoneyMate. "The real challenge is not in producing the actual documents but in producing the volume of data required in an accurate and timely manner. Canadian firms must acknowledge the pending deadline and begin to invest in implementing a solution to address the issue.

MoneyMate DataManager is a hosted solution that provides global asset managers with a centralized platform to oversee and control the quality, accuracy and timeliness of their investment product data. DataManager enables firms to efficiently and accurately generate Fund Facts documents by collecting, validating and standardizing fund data so that at all times, fund data is accurate and easy to access. DataManager allows firms to tackle the data challenge and seamlessly produce the required documents in a scalable and efficient manner.

"We recognized the growing need in Canada and we are dedicated to this region," continues Mr. Brennan. "We've been speaking with local firms and have enhanced our service to enable Canadian firms to better comply with these new reforms."