Roadmap and Upcoming Versions

Roadmap

Over the last 4 years, openfunds has evolved from a relatively small list of fields and some rules to a rather long list of field descriptions, additional concepts, proposed file formats and, last but not least, users.

Roadmap 2020 and 2021 of openfunds
Roadmap 2020/2021

Upcoming Versions

At openfunds we consider two general updates in a year as a good compromise between the size of the updates and the flexibility needed to cope with new regulatory requirements. As we have seen an increasing tendency for new fund regulations, not only in Europe but also in many individual countries in and outside Europe, this puts some pressure on openfunds for more releases. The above chart with its 5 updates shows what we think should be the maximum of new releases for 2020 and 2021. However, it might happen that instead of having a version 1.27 in 2020 and another version 1.28 in spring 2021 we will postpone version 1.27 and will instead have another version (not shown on the current chart) in the fourth quarter of 2021.

General Updates (provisionally v1.27 and v1.28)

These updates are a result of general requests for new fields from active members. As mentioned before, we are trying to keep the yearly updates to a maximum of two. Whenever possible, we also try to combine those updates with regulatory updates to reduce implementation efforts and costs.

For the rest of 2020 and 2021 we foresee two general updates. Whether they are released in Q4/2020 and Q2/2021 or rather in Q1/2021 and Q3/2021 depends mainly on the necessary regulatory updates.

Regulatory Updates (provisionally v1.29)

Timing for regulatory data is a big unknown at the moment. However, we expect to see a new version of the EPT and also a new initiative on ESG (Environment, Social, Governance) before the end of 2021. The latter may be a new template published by FinDatEx or alternatively a new set of fields that will be included into the EMT.

Major Release 2.0

One of the planned things that might need a longer notice period is our intention to publish a major release. A major release can be recognized by a big figure change, e.g. from 1.2x to 2.xx.

The main difference between a minor and a major release, however, is the omission of fields that are no longer supported. More information about the version management can be found in the white paper ‘Version Management’. As openfunds follows a field-level versioning approach it is possible to continue to use ‘no longer supported’ (NLS) fields even after they have been declared as NLS and a recommendation for a newer version exists. This approach allows a greater flexibility on implementation dates, but over time leads to a situation where quite a number of NLS fields can be used (and must be maintained) besides their successor field.

For this reason we are planning a major release at the end of Q3/2021, which gives all openfunds users roughly a 15-month lead time to decommission NLS fields. At the moment these are the NLS fields that needed a replacement, if the major release took place right after the launch of version 1.26.x:

Links

List of ‘no longer supported’ (NLS) fields for versions 1.0 until 1.26.3 (Excel).

Additional Improvements

Sets of data fields

Not only the number of fields, but also the number of topics that are covered by openfunds has increased substantially over the last 4 years. Additionally, openfunds includes many more country-specific fields.

Altogether the number of fields increased by roughly 4 times from 160 to around 680 fields, not taking into account field enhancements like country suffixes or language codes.

With the broadened list of fields, the questionnaires sent out to fund houses have also increased in width (number of columns), quite often also asking for data points that are not relevant for a market or the intended way of fund dissemination.

We will therefore create several mostly complementary datasets that can be used to request specific data fields, thus keeping the questionnaires much smaller than today.

White Papers

Although we have added many new fields covering separate topics we have not as yet published associated white papers for these. Over the coming months we will supply these and publish them in the White paper section.