The SEC has adopted amendments to its Names Rule that addresses certain broad categories of investment company names that may mislead investors about an investment companys investments and risks. Accordingly, the SEC has released a draft of the new Fund (FND) XBRL taxonomy.
Under the new amendments, funds and unit investment trusts are required to tag narrative information about their 80% investment policy and the terms used in their name. This includes tagging the definition of each term and the specific criteria they use to select the investments that the term describes using a structured data language (specifically Inline eXtensible Business Reporting Language or Inline XBRL). The new elements needed to tag these disclosures are in this new draft FND taxonomy.
Be advised that the SEC has indicated that technical issues occurred while importing other 2023 taxonomy files, thus preventing the inclusion of an fnd-entire entry point in this draft version. The 2024 version, set to be released in the next EDGAR update, will include an fnd-entire entry point.