Argentine Mutual Funds (FCI) Data — Architecture Guide

Argentina's mutual funds (Fondos Comunes de Inversión, "FCI") industry is regulated by the CNV (Comisión Nacional de Valores). CNV publishes two things at different cadences:

Daily net asset value (NAV) data — every business day, each fund-class's unit price (valor cuotaparte), shares outstanding (cantidad de cuotapartes) and total net assets (Patrimonio Neto), together with classification metadata.
Weekly portfolio composition — every Monday (reflecting the previous Friday's portfolio), every fund's full holdings list, instrument by instrument.

Alphacast ingests both feeds and builds a layer of derived analytics on top — total-return indices, subscription-vs-price decompositions, tear sheets, AUM rankings, and more.

This guide explains how the five topical repositories fit together and which to use for which question.

The six repositories

All organized under Comisión Nacional de Valores (CNV) — Fondos Comunes de Inversión:

Repo	Contents
Daily Net Asset Value & Share Data	Daily NAV / shares / unit price feed — yearly shards, plus per-category breakouts
Daily Net Asset Value & Share Data — A to Z	Same daily NAV feed, partitioned by fund-name initial letter (26 datasets, A–Z)
Holdings	Weekly portfolio composition: instrument-level holdings, aggregates, cheque detail
Total Return & Tear Sheets	Total-return indices and performance summaries (per fund, per class, per manager, per category, industry-wide)
Flows	Subscription vs price-effect decomposition (per fund, per category, industry-wide, CER subset)

The three layers of data

Ingested daily from CNV. Each row is one fund-class on one day with its unit price, shares outstanding, total net assets and classification metadata.

The same underlying daily feed is partitioned three ways for query performance:

By year (Daily Net Asset Value & Share Data): one dataset per calendar year — Fondos Comunes De Inversion - 2026, 2025, 2024, 2023, and historical shards back to 2002.
By letter (Daily Net Asset Value & Share Data — A to Z): one dataset per fund-name initial — Fondos Comunes De Inversion - A, B, …, Z. Convenient when you need full multi-year history for a specific fund or set of funds whose names start with a known letter.
By category (Daily Net Asset Value & Share Data): one dataset per regulatory horizon / asset-class slice — Mercado de Dinero, Pymes, Renta Fija (MED / COR / LAR / FLEX), Renta Variable (LAR / MED / FLEX / COR), Retorno Total, Infraestructura, Fondos Cerrados, Sasig, etc.

For continuous fund-level AUM history pre-aggregated across share classes, see Mutual Funds - Total Aum Per Fund.

2. Weekly portfolio composition — what funds hold (Holdings)

Ingested weekly (Mondays, reflecting Friday's portfolio) from CNV. Every fund's full holdings list — every bond, plazo fijo, cheque, equity position, with its percentage of the fund's net assets.

Core datasets:

CNV FCI Portfolio Holdings — long-format, instrument-by-instrument
CNV FCI Portfolio Aggregates — fund-level totals by regulatory category
CNV FCI Cheques Detail — granular cheque/pagaré/VCP/fideicomiso positions, sharded by year: 2022, 2023, 2024, 2025, 2026
CNV FCI Portfolio Cheques Summary — condensed view by gerente/fondo/instrument type
CNV FCI Holdings by Class & Currency — pre-aggregated allocation tables
FCI Holdings 2026 / 2025 — yearly holdings shards with enriched classification
[LEGACY] Mutual Funds Portfolio Holdings - All Assets — bridge dataset that maintains the original 2017-2024 schema; re-derived weekly from the new CNV holdings suite from 2025 onward

3. Derived analytics — Alphacast-computed

Total Return & Tear Sheets — Total-return indices at multiple aggregations: per fund, per share class, per manager, industry-wide, per category in wide and long format, plus daily return building blocks and tear sheets at 1Y / 2Y / 3Y windows. Also TRI-based rankings within key categories: Renta Fija T+1, Renta Variable, >50% CER.

Flows — Daily decomposition of net-asset change into net subscriptions vs price effect, at three aggregations: per fund, per category, industry-wide, plus a CER-subset slice. Also includes a 2023 PN snapshot and a coverage utility (Observations Per Day).

Cadence cheat-sheet

Question	Source	Cadence
What is fund X worth today?	Yearly NAV shard (47423 for 2026) or A–Z shard	Daily
What did fund X hold last week?	Portfolio Holdings	Weekly
Year-to-date return of fund X	Total Return Index Per Fund	Daily
Performance stats for fund X over 12 months	Tear Sheets 1Y	Daily
Industry exposure to ON YPF	Portfolio Holdings	Weekly
Subscriptions vs price effect for fund X	Subscription & Price Effects By Fci	Daily
Total industry AUM	Total AUM Per Fund	Daily

Data lineage

                       CNV (cnv.gov.ar)
                            │
            ┌───────────────┴────────────────┐
            │ (daily NAV feed)               │ (weekly holdings feed)
            ▼                                ▼
   ┌─────────────────────────────┐   ┌──────────────────────────────┐
   │ Repo 1207 — Daily NAV       │   │ Repo 22866 — Holdings        │
   │   By year: 29957 … 47423    │   │   50916 Portfolio Holdings   │
   │   By category: 8026 … 46151 │   │   50918 Aggregates           │
   │   AUM rollup: 36947         │   │   50978-50982 Cheques Detail │
   │   Last price: 40003         │   │   50912 Cheques Summary      │
   │                             │   │   50923 Holdings by Class    │
   │ Repo 16912 — Daily NAV A-Z  │   │   50946/50958 Yearly Shards  │
   │   By letter: 44738 … 44763  │   │   29744 [LEGACY] Bridge      │
   └──────────────┬──────────────┘   └──────────────────────────────┘
                  │
                  ├──────────────────────────────┬───────────────────────────────┐
                  ▼                              ▼                               ▼
   ┌──────────────────────────────┐   ┌──────────────────────────────┐
   │ Repo 22935 — Total Return    │   │ Repo 13312 — Flows           │
   │ & Tear Sheets                │   │   29806 Subs/Price by Fci    │
   │   29917 TRI per Fund         │   │   32253 Subs/Price by Cat    │
   │   29914 TRI per Clase        │   │   34403 Subs/Price Industry  │
   │   29919 TRI per Manager      │   │   35056 Subs/Price >50% CER  │
   │   34404 TRI All Industry     │   │   35032 Observations / Day   │
   │   34406/35045 TRI per Cat    │   │   39506 PN per Fund (2023)   │
   │   49368 Daily Return         │   └──────────────────────────────┘
   │   39347/39360/39363 Tear     │
   │     Sheets 1Y/2Y/3Y          │
   │   38639/38640/38641 TRI      │
   │     Rankings                 │
   └──────────────────────────────┘

When the two CNV feeds disagree

Both the daily NAV feed and the weekly holdings feed publish total Patrimonio Neto. They generally agree within 1%. Small differences happen because:

NAV is multi-class, holdings are fund-aggregate. Daily NAV splits a fund into Clase A / Clase B / Clase H Ley 27.743 etc. — each with its own PN. Holdings reports a single PN across all classes. Sum NAV's classes to match holdings.
NAV sometimes has NaN classes. When a class hasn't reported on a given day, that row is NaN. The fund's true total may be slightly above what's published.
Date alignment. Holdings reports the Friday close ("cartera al"); daily NAV is, well, daily — compare against the matching Friday.

For ground-truth AUM, prefer the daily NAV feed. For ground-truth holdings, the weekly holdings feed is the only granular source.

Quick recipes

"Show me all the LECAP-holding funds, sorted by exposure"

Use Portfolio Holdings — filter instrument_name containing "LECAP"
Sort by holding_amount descending

"What's the daily total industry AUM?"

Sum Patrimonio Neto across the current year's NAV shard (e.g. 47423 for 2026), grouped by Date. Or read Total AUM Per Fund and aggregate.

"Track Fima Premium's NAV vs its cash holdings"

AUM/NAV daily: 47423 filter Fondo Común de Inversión = "Fima Premium..."
Or the A–Z shard for the relevant letter (F)
Cash detail weekly: 50916 filter cnv_fund_id = 63383

"What's the cheque exposure of PyME funds this quarter?"

CNV FCI Cheques Detail yearly shards (2022, 2023, 2024, 2025, 2026) → individual cheques per fund per week
Or Cheques Summary → totals per fund per week
Filter fondo to PyME-classified funds

"How much did the Renta Variable category net-attract this month?"

Read Subscription & Price Effects By Category, filter to your month and category = "Renta Variable", sum efecto_suscripcion.