MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Monday, September 17, 2007 John Hancock Becomes the First to Submit XBRL Filing for the SEC's Risk/Return Taxonomy Bowne & Co has completed the first XBRL filing for the Risk/Return Taxonomy submitted by a third-party mutual fund EDGAR filer, on behalf of the John Hancock Bond Fund. Bowne's partner in the XBRL venture is Rivet Software; both companies were members of the working group that created the ICI Risk/Return taxonomy. Bowne & Co., Inc. (NYSE: BNE), a leading provider of shareholder, financial and marketing communication services, today announced that it has completed the first-ever XBRL® (eXtensible Business Reporting Language) filing for the Risk/Return Taxonomy submitted by a third-party mutual fund EDGAR filer. Supported by its strategic alliance with Rivet® Software, Bowne filed the Investment Company Institute (ICI) Risk/Return XBRL supplement for the John Hancock Bond Fund on September 12, 2007. On August 20, 2007, the Securities and Exchange Commission (SEC) expanded its XBRL Voluntary Filing Program to allow mutual funds to submit their prospectus information containing fund objectives, strategies, risks, performance and expenses. John Hancock, a leader in the mutual fund industry, is committed to staying ahead of changes in the regulatory landscape. "We wanted to file soon after the voluntary program was initiated because XBRL will become increasingly important in the future, and we wanted to show our support for the ICI/SEC initiative," said Tom Kinzler, Secretary for Hancock Funds. "Bowne and Rivet helped us get our feet wet and understand something about XBRL without changing our current processes." Bowne and Rivet are pioneers in the XBRL space. Bowne created and filed the first document submitted in the voluntary filing program, and both companies were members of the working group that created the ICI Risk/Return taxonomy. Bowne and Rivet jointly provide a complete interactive data solution, including the creation, management, submission and analysis of XBRL documents; related consulting services; and software support and maintenance. Their integrated approach will utilize Rivet's next-generation collaborative Web-based markup application, which streamlines the reporting of prospectus information to the SEC. "Rivet's solution for mutual funds complements Bowne's service-oriented approach to the market," said Tom Siedzik, Bowne Senior Vice President, Sales. "With this filing, John Hancock has again demonstrated its commitment to providing not just more -- but better -- information to current and potential investors. We're excited about the opportunity to help John Hancock exhibit its industry leadership." "While other markup solutions rely solely on automated or machine-based conversions, Rivet's solution is based on leading-edge technology, supported by accounting professionals who understand the complexity and subtleties of reporting and work closely with clients' internal accounting personnel," said Mike Rohan, President, Rivet. For more information regarding Bowne and Rivet's XBRL solutions, please contact Ed Hodder at ed.hodder@bowne.com or (216) 928-2417 or your Bowne sales representative. About Bowne & Co., Inc.: Bowne & Co., Inc. (NYSE: BNE) provides financial, marketing and business communications services around the world. Dealmakers rely on Bowne to handle critical transactional communications with speed and accuracy. Compliance professionals turn to Bowne to prepare and file regulatory and shareholder communications online and in print. Marketers look to Bowne to create and distribute customized, one-to-one communications on demand. With 3,200 employees in 60 offices around the globe, Bowne has met the ever-changing demands of its clients for more than 230 years. For more information, please visit www.bowne.com. About Rivet Software: Based in Denver, CO, Rivet Software is an innovator in developing effective and easy-to-use financial analytics and interactive business solutions. Rivet's suite of interactive financial applications combines this new collaborative Web-based markup solution and Rivet's popular Dragon Tag® XBRL creation and Dragon View viewing applications with the server-based Crossfire™ Analyst product to provide interactive data support throughout the entire reporting supply chain. Crossfire Analyst is the first business-focused application to deliver a fully scalable solution to easily collect, analyze and map XBRL data, thereby providing regulators, analysts, investors and corporations with a powerful and flexible solution for interacting with financial and business data. All Rivet Software products adhere to the XBRL global reporting standard and work with the de facto standard desktop software, Microsoft Excel® and Word. For additional information, please visit www.rivetsoftware.com. About John Hancock Funds: The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds, manages more than $59 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at June 30, 2007. For more information, please visit www.jhfunds.com. John Hancock Financial Services is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$410 billion (US$386 billion) at June 30, 2007. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial may be found on the Internet at www.manulife.com. Printed from: MFWire.com/story.asp?s=15761 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |