BUY-SIDE BRIEFS

Eagle Investment Systems, provider of web-based and enterprise investment management software, announced it has purchased all outstanding shares of Wellesley, MA-based ITS Associates, Inc. for an undisclosed amount. Eagle supplies enterprise investment management solutions to more than 40 companies representing trillions in assets under management. Eagle's suite of investment management portfolio and accounting software includes Eagle PACE, an investment data hub, warehouse, and portfolio management system, and Eagle STAR, a scalable, Web-based securities accounting system. ITS Associates, Inc. was founded in 1978 and is a provider of portfolio management software for global institutional investment firms.

The Vanguard Group has introduced a fund industry All-In Fee Report to its employer-sponsored retirement plan clients. The Vanguard All-In Fee Report sorts a plan sponsor's operating expenses into five categories: Asset-Based Fees: Expenses associated with fund operations, including the costs of investment management, administration, and fund accounting. Service Fees: Fixed per-participant fees covering primary administrative and record-keeping functions, including participant and plan-level reporting, online programs, and telephone support. Fees for Additional Services: Fees related to other services such as specialized education programs and administrative outsourcing services. Total All-In Fees: Summary of all fees (Asset-Based, Service, Additional) within the plan. Total Expense Ratio: Determined by dividing the Total All-In Fee by the plan's total assets at year end.

Offering equity analysis and portfolio management tools and data to the StockVal, a BRIDGE company investment management marketplace, announced the release of StockVal WAVE (Web Activated Valuation Engine). Incorporating a browser-based platform and equity analysis tools designed to access StockVal's database, The WAVE provides users with access to the factors that drive equity pricing through the versatility of the Internet. The WAVE is a security analysis package based on the foundation of the StockVal System security analysis and valuation modeling product. The WAVE's features include many of StockVal System's security analysis techniques and portions of its proprietary database including intuitive tools for equity growth, momentum, valuation, profitability and performance analysis.

CheckFree Investment Services announced, that Schwab Consulting Services, part of Charles Schwab & Co., will leverage CheckFree APL WRAP to streamline trading, straight-through processing (STP) and portfolio reporting requirements of its new managed account service for independent, fee-based investment advisors. The new service, Managed Account Select, is expected to go live in the second quarter of this year, and will provide approximately 6,000 advisors doing business through Schwab Institutional, with access to approximately 50 money managers representing over 12 investment styles selected by Callan Associates Inc., a San Francisco-based investment consulting firm. CheckFree Investment Services is a provider of wrap-fee systems to the separate accounts industry.