Ralf Hensel, senior counsel at the Investment Funds Institute of Canada, is taking over as chairman of the Canadian Investment Funds Standards Committee.

Effective January 1, Hensel replaces Rudy Luukko, investment funds editor at Morningstar Canada.

Hensel joined the CIFSC in January of this year. Luukko notes that this is the first time a representative from IFIC will chair the committee.

The CIFSC was formed back in 1998 by the major mutual fund database and research firms in an effort to standardize the classifications of Canadian-based mutual funds, and to provide investors with a consistent set of mutual fund categories.