Red Book, Yellow Book back on shelves
The Yellow Book and The Red book are about to regain their place on the financial services industry’s book shelves, but no longer in a printed format.
The Yellow Book and The Red book are about to regain their place on the financial services industry’s book shelves, but no longer in a printed format.
The two managed funds and master trusts source books fell victim to the collapse of the Australian Investment Advisers group and AIA Services about three years ago.
APIR Systems, the rejuvenators of the source books, have discarded the printed version of the Yellow Book in favour of one accessed via the Internet. The Red Book will remain accessible through a software package.
APIR Systems managing director Andrew Hutchings says the relaunch of the in-dustry sources in electronic format allowed them to be updated far more regularly than before.
“When the Yellow Book was last published, the turnaround time for the printed version was three months. In that time information on managed funds and master trusts can become dated,” he says.
“In the new format, they can be updated on a daily basis.”
The Yellow Book is aimed squarely at financial planners and paraplanners and contains information on 8,000 managed funds and master trusts which are either currently operating or have operated in the past. It provides no performance data but information such as when it was opened, when it makes its distributions and whether it includes money from a closed account and if so which one.
“It has been particularly useful to research where all the funds went when Colonial folded a number of former Prudential and Legal & General managed funds, fol-lowing the two takeovers,” he says.
The Red Book provides more sophisticated analysis of data in the same database. It is aimed at research houses, fund managers and large distribution groups.
Both the Yellow Book and the Red Book are to be relaunched at the Investment and Financial Services Association’s annual conference in Melbourne which kicks off next Tuesday.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
