FRC To Stop Disclosing Fund Sale Information for Public

The Financial Research Corporation (FRC), a source for information on asset inflows and outflows to mutual fund companies, said it will stop disclosing net sales information to the public, the Wall Street Journal reports.

The WSJ said the researcher will continue to report assets and fund flows for the 25 largest fund groups, but is discontinuing availability of net-sales figures to nonpaying subscribers and the media. FRC said the decision was prompted by backlash from funds, which are its clients, and by its desire to broaden services into industry commentary and free up resources to do that.

“We want to become more of an advocate to clients, and if part of that is shielding them from negative press, it’s probably good for us and for them,” Sam Campbell, director of research at FRC, told the WSJ.

Many fund companies have disputed the FRC data over the years, saying that it does not paint a full picture of their products because it excludes net sales in areas such as money-market funds, according to the news report.