Monday, April 7, 2008
The SEC announced the launch of a new Internet Web page that enables investors to more easily read, analyze, and compare the information provided by mutual funds related to fund cost, risk, and past performance. The SEC approved rule amendments in June 2007 to enable mutual funds to submit risk/return summary information from their prospectuses using interactive data. To date, 20 mutual funds have voluntarily submitted their information in interactive data format since Aug. 20, 2007. Additional filers are expected to participate in the coming months.
Interactive data is powered by XBRL, a computer software language that labels companies’ financial and other data so that investors and analysts can more easily find what they’re looking for, and use the information for comparisons and analysis.