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INDATA has announced that SKY Investment Group, a Connecticut-based investment adviser that specializes in tax-sensitive core equity and balanced account management for private investors, is now live with the INDATA I.M.S. system for portfolio modeling, pre- and post-trade compliance, trade order management, portfolio accounting and reporting. INDATA is a provider of software solutions for buy-side firms including trade order management (OMS), compliance, portfolio accounting and front-to-back office technology.
"The INDATA system allows us the ability to seamlessly run our business from end-to-end, from the compliance and OMS standpoint through to back-office accounting and client reporting," said Robert Bingham, president of SKY Investment Group, in a release. "We found the flexibility of the INDATA system and its Microsoft SQL-driven, open database far superior to other products. It gives us an immediate competitive advantage by allowing us to manage rapid growth, increase the productivity of our portfolio managers and service our client's varying information needs," he continued."In order to manage growth, the operational processes must be streamlined," said David Csiki, managing director of INDATA, in a release. "Both new and well-established firms are turning to INDATA to better manage the entire investment process. We welcome SKY Investment Group to our fast-growing client base."
SunGard to Provide Outsourced Solution for Addressing Mutual Fund Revenue Management and 22c-2 Compliance
SunGard has announced an alliance with Delta Data Software through which it will offer Delta Data's FundLinx solution suite on an outsourced basis over the SunGard Transaction Network (STN). STN will marry SunGard's data management expertise, the connectivity of STN's buy- and sell-side interfaces, and Delta Data's analytics and contract management engines to simplify compliance.
The first offering available through STN's service bureau will be based on Delta Data's Revenue Manager, a product for managing the complexities of mutual fund revenue receipt and allocation, which facilitates full disclosure and fee transparency. The firms also will deliver a new service, Catch-22, a combined data warehousing, analytics engine and administration tool to ensure buy-side and sell-side compliance with the new SEC 22c-2 ruling.
The revenue management service available through STN will calculate, track, invoice, post and reconcile account servicing and distribution fees due from fund partners. It also will provide similar services for pass-through payables to an institution's individual investor base or retirement plan clients.
Catch-22 will link the entire data path from the fund companies and transfer agents to the NSCC to the financial intermediaries in order to manage the intricacies of 22c-2 compliance and administration.
"By bringing [Delta Data's Revenue Manager and market timing analytics components] onto STN as fully-hosted services and linking them to our other services for mutual fund processing, we will offer an automated, end-to-end solution for mutual fund trading and administration," said Kevin Rafferty, president of SunGard's STN business, in a release.
