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Data Policy

Data Policy – March 1st 2017

Scope of funds processed

TrackInsight aims at offering a coverage of Investment Products structured in the form of Open End Funds listed on a regulated exchange. Funds available on the platform have been identified and selected based on the following criteria:

  • Funds domiciled and listed in North America and/or Europe
  • Funds offering a delta one exposure to a transparent index
  • Funds for which static and historical data is made available by its promoter and for which no deviation in excess of 2% from its benchmark has been witnessed over the course of the last five years

TrackInsight reserves the right to define unilaterally the scope of funds to be included or removed into its analytics.

Nature of the data used by TrackInsight

The analytics provided by TrackInsight rely on a number of data elements such as and not limited to:

  • Historical series of funds Net Asset Values, number of outstanding shares and deviation from the benchmark
  • Historical series of FX rates
  • Descriptive information on funds and indices

Source of the data used by the platform

Data collected and managed by TrackInsight is sourced from:

  • Websites of ETF vendors for public information on the funds and indices
  • Annual and interim reports, prospectuses and KIIDs
  • Automated feeds from Fund issuers

Daily performance, risk indicators and flows are computed based on un-verified data provided by the ETF issuers.

Reasonable care is put into the verification of the data to ensure a fair representation of the output of TrackInsight analytics regarding the information sourced from those public and professional sources that are deemed providing a fair representation of the information related to funds and indices.

Control procedures

Information fed into TrackInsight is verified monthly and updated up to the last trading day of the previous month no later than the 15th of each month for funds that exhibit a track record longer than one year. For those funds, TrackInsight also offers replication accuracy analysis based on verified data.

Data sourced from the different providers is collected and stored in a proprietary data management system for the purpose of allowing technical controls to take place prior to their transfer into the analytics.

Data quality is a key element in TrackInsight operational processes. The quality assessment of input and output data for our analytics is based on a systematic reconciliation with alternative sources, coupled with statistical filters that trigger analyst diligence in the event of anomalies being detected.

In no circumstances can information or data externally sourced be unilaterally modified by TrackInsight. TrackInsight reserves its right to remove a fund from its database in circumstances where the quality of the information obtained from external sources is considered insufficient.

Commercial agreements exist with several fund providers for the purpose of allowing the data collected to be specifically verified and confronted before it is loaded onto the platform. Funds that have been reviewed as part of those commercial agreements are considered as ‘certified’.

Backfilling policy

TrackInsight applies a strict no-backfilling policy as the information and data collected on a daily basis precisely reflects what professional investors would obtain using the same data sources.

In the event the TrackInsight team, an identified user, a fund or an index provider highlights a rogue, missing or irrelevant element, TrackInsight analysts will endeavor to understand the source of the inconsistency with reasonable care.

Information related to such anomalies can be sent by simple email to support@trackinsight.com.

The TrackInsight analyst team will first determine whether or not the anomaly is real and confront their findings, when necessary, with the relevant counterparty. Issues raised within three months of the publication on the TrackInsight platform can benefit from a correction procedure all of the following conditions are met:

  • The origin of the mistake is clearly determined
  • The corrected information can be provided to The TrackInsight team with relevant justification
  • For NAV, number of outstanding shares, trading volumes and Index data, the relevant producer of the information recognizes its responsibility into the dissemination of incorrect information
  • The data is publicly corrected on all sources used by TrackInsight

For each correction requested on an element of information loaded into the TrackInsight system, an administrative fee of €1,000 excluding VAT will be invoiced to the party requesting the correction. In addition, the fact that an element of information has been updated will be highlighted on the TrackInsight platform and a full track of those changes made available to end users of the platform.