Mutual Fund Profile Service is a multi-dimensional repository of three databases that allows funds, broker/dealers and other distribution firms to automate and streamline the exchange of accurate and timely information on securities, participants and distributions.

Overview

Mutual Fund Profile Service is a multi-dimensional repository of three databases that allows funds, broker/dealers and other distribution firms to automate and streamline the exchange of accurate and timely information on securities, participants and distributions.

The Security Issue Database, a central data source for comprehensive fund prospectus and operational rules, is a recognized industry standard for dynamic access to information critical to the distribution of mutual funds in the third-party market.

The Participant Database contains information on the processing capabilities of both fund companies and firms.

The Distribution Database holds data, such as record, reinvestment and payable dates, for dividend and capital gains, payments and commission payouts.

Participants are able to update their information in a pre-programmed format supported by DTCC WebDirect,a Web interface that gives users direct access over the Internet to services provided by DTCC's subsidiaries. Profile is also accessible via mainframe through DTCC’s SMART connection.

Who Can Use the Service

Any interested financial organization that meets NSCC qualifications can use the service.

Benefits

• Allows asset managers to communicate information to their distribution channels through a single source.
• Gives distributors ready access to a broad range of the most current and accurate mutual fund rules-based information.
• Provides funds with technology to input, check, validate and correct data.
• Streamlines data entry by providing front-end edits and access to “help” tools and a standard data dictionary through a new Web portal in development.
• Automates the process of information exchange in a standardized format.
• Reduces overhead costs associated with manual and paper processing.
• Decreases errors, delays and processing difficulties.
• Simplifies the process of maintaining proprietary databases through version control.
• Transmits time-sensitive data without delays and allows participants to amend their files regularly.

More Information on the Security Issue Database

The Security Issue database introduces the first-ever tool for mutual funds to disseminate a broad range of reference information about fund securities, increase transparency of information, and strengthen auditing and compliance management to their distribution partners. This information includes investment objectives; fee schedules; contingent-deferred sales charges; blue-sky details; commission data; breakpoint schedules and linkage rules, and more.

A hierarchical structure streamlines information input by funds at one level, where it automatically flows to other applicable levels, eliminating repetitive entries. Profile will be continuously enhanced to meet the needs of the industry.

How the Repository Works

Security Issue Database: Funds may provide the following information to all of their distribution partners:

• Security Issue ID number, symbol and name
• Characteristics (e.g., load, no-load, load type, etc.) and investment objectives
• Breakpoint schedule data records and linkage rules
• Minimum and maximum restrictions on purchases, redemptions and account size.
• Share-class definitions and exchange relationships
• Date of last prospectus and last annual report
• Fund/SERV settlement cycles
• Blue-sky eligibility
• CDSC schedules

Participant Database: Both funds and firms can provide:

• Contact names and types, addresses and phone numbers for the firm or fund member
• Processing capabilities detailing NSCC services and subcategories used, as well as any restrictions or requirements

Distribution Database: Funds may provide the following information:

• Projected or actual distributions
• Capital gains and dividend amounts, record date, ex date, reinvest date, payable date, etc.
• Commission information (12b-1 sales charge rates)

For More Information

Please contact DTCC Relationship Management at (212) 855-8877.