New Share Class Comparison Report Added to the Fi360 Toolkit
November 23, 2015The product team at fi360 has innovatively taken both our research and development findings and your user feedback to produce additional functionality within the fi360 Toolkit. We are excited to announce the following changes:
New Report Now Available in the fi360 Toolkit
Toolkit users will now have access to a new report titled, Share Class Comparison. The Share Class Comparison report is located in the My Clients section and will give subscribers the ability to compare share class expenses against other alternative share classes that are available.
View a copy of the Share Class Comparison report.
There will also be a few disclosure changes made to the model portfolios report. These changes include clarification of historical hypothetical performance, updates to the performance disclosures to ensure compliance with recent FINRA filing comments, and additions to risk disclosures to Peer Group Definitions.
GRPA changes coming with the November 30 Data Release
The expense ratio used for all GRPAs will be updated. Historically, a data point called “TotalAnnualOperatingExpense” was used to represent the GRPA expense ratio within fi360. After further research and feedback from our user base, we have decided to implement a change in this data point effective with this data feed to make the ratio more reflective of the true expense of the investment. The new expense ratio will combine the “ProspectusNetExpenseRatio” with the “SubAccountInsuranceExpense”.
How will this affect the database? In 99.9% of the investments, the new expense ratio will be the same or lower than the one currently displayed.
- 17,584 have no change
- 2,661 have < 5 bps change
- 1,345 have 5 to 10 bps change
- 2,770 have more than 10bps change
The biggest impact is on select John Hancock Target Dates which previously had expense ratios above 5%. Those are now correctly displayed closer to 1%.
