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08. Know your product (KYP)

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This video describes product benchmarking, which is the final step in ensuring that a file is compliant before it is sent to the administrative department.

This procedure makes it possible to justify the choice of a fund by comparing it to similar products on the market in order to comply with your due diligence.

1. Access to the tool in VieFund

  • Navigation: Log in to VieFund and head to the “Research” section.
  • Selection: Choose the “CVP View” option  located at the very bottom of the drop-down menu to access the analysis interface.

2. Identification of the recommended fund

  • Entry: Enter the code and number of the fund you want to analyze (e.g., a Manulife mandate).
  • Search: Start the search with the button on the right side of the screen.
  • Selection: Once the fund has been identified, select it on the left and click on “Add to comparison list”.
  • Activation: Confirm the selection and navigate to the “Product Comparison” tab  in your workspace.

3. Search for comparable products

  • Compliance criterion: You must identify at least two comparable products using the same benchmark.
  • Research method:
    • Use the original fund code to copy its exact settings.
    • Filter by product type (e.g., mutual fund), asset class (e.g., Canadian fixed income), vulnerability rating (e.g., low) and investment objective (e.g., income).
    • Display up to 500 results to make your selection easier.
  • Selection: Choose two or more mandates (e.g., CIBC and Canoe) and add them to your list as before.

4. Final Analysis and Rationale

  • Viewing data: The comparison tab then displays the initial fund on the left, flanked by its peers. Review comprehensive data on fees, risks, returns, and geographic and sector allocation.
  • Save: Click “Save this comparison review”.
  • Optimization (GFS Tip): If you are working with multiple series of the same mandate, enter all the codes in the description field to avoid repeating the analysis individually.
  • Review Note: Write your rationale by mentioning the manager’s expertise, performance history or strategic allocation.

5. Archiving and Compliance

  • Validation: Click “OK” to archive the scan in the system history.
  • Verification: Enter the fund code to confirm that the analysis is recorded and can be viewed later.

Compliance reminder: A file is considered complete and compliant only if it includes the NAF, the investor questionnaire (C0) and this CVP analysis.