APIR breaks codes barrier
APIR, the Canberra-based industry organisation that supplies codes to unit trust products, now has 10,000 active products listed and coded, according to managing director Andy Hutchings.
The mark indicates that there are currently 10,000 open products available to consumers and advisers, including many of the fund options available as part of each unit trust offering.
Hutchings says the group has issued more than 10,000 codes but many of the investment products carrying those codes are no longer open to investment or have been closed altogether.
The codes are used by fund managers to identify their products on recommended lists and inside administration platforms, such as wrap accounts and master trusts.
APIR is also providing the codes for the upcoming roll out of the SuperEC Funds project, which is aimed at providing a co-ordinated back-end system between superannuation providers.
The group will provide superannuation product identification numbers to the Spin Register in much the same way it supplies codes for managed funds.
The Spin Register codes will go live this month.
AUTHOR
Jason Spits
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