COLUMBUS, GA, August 22, 2002- Delta Data Software, Inc. (DDS) is pleased to announce the release of Version 4.0 of its FUNDLinx automated mutual fund processing software. The key enhancements to the software platform are its new Fund of Funds processing functionality and a new module added to the FUNDLinx suite - RevenueManager.
The Fund of Funds feature will allow a financial services provider to indicate a specific Cusip as being a Fund of Funds Cusip with automatic re-balancing calculation and trade creation functionality built in. A Fund of Funds may contain other Fund of Funds allowing the user to create custom baskets of products geared toward specific client investment objectives i.e. life style funds, etc. This new feature may also be used to trade unitized employer securities.
RevenueManager is designed to meet the general business requirements for managing commission and revenue payments from fund companies to financial institutions including Banks, Trusts, Brokers, Plan Administrators, etc. The module can anticipate and calculate various fees paid by fund companies to firms based on prospectus or negotiated arrangements. This first release will include asset based fee types (12b1, SubTA, service fees, etc.) such as those included in the NSCC Com/SERV files. The next release will also include calculations of trade based fees. The system will also calculate and manage commission sharing arrangements and payments by the firms out to their customers and/or brokers, including payments to brokers on Omnibus accounts.
For more information on FUNDLinx Version 4.0 or to schedule a software presentation, contact Rick Blum, National Sales Director.