The Association of Unit Trusts and Investment Funds (Autif) is to replace its existing statistics-gathering system with Thomson Financial's Portfolio Analysis Reporter (PAR) solution.
Autif's statistics team creates monthly reports on the business flow and ranking of the 148 investment fund management companies that together represent the £213 billion UK mutual funds industry. Autif members themselves require such data to compare their business flow and funds under management over time relative to their competitors.
Anne McMeehan, director of communications, Autif, says: "PAR enables member companies to conduct detailed analysis of their funds under management and sales and repurchase positions relative to the rest of the industry by fund and by distribution channel over time. As such it will be a vital tool for the effective management of their businesses."
She continues: "The new PAR system offers us the more flexible solution that we need to accommodate the increasing number of product lines. More importantly, it meets our rigorous security requirements and automates many of the current manual procedures, bringing a number of cost and time efficiencies to Autif. Furthermore, the report facilities for member companies will be much more advanced."