DIAMOS AG launches new release of its fund management solution DIAMOS-F

Sulzbach - 6 July 2017

DIAMOS‐F, Release 1.21 brings extensive functional and contextual innovations: optimization of the entire process chain, comprehensive updates and new features for mapping the investment tax reforms This version focuses on mapping the requirements of the investment tax reform, which will come into effect on 1 January 2018. After that date, a new chapter in the taxation of investment assets opens. The entire industry has been working towards this deadline for years, and DIAMOS AG also directed its resources on updating its products to comply with the latest regulatory requirements. In this context, various tax identification numbers have been revised, i.e. newly implemented into the system. Additionally, a new tax value will be used to calculate correct results in fund accounting, which deviates from the initial cost under commercial law.

Alongside issues concerning the investment tax reform, customer requests, as well as upgrades in product management have been included into the new release. With immediate effect, DIAMOS customers can integrate the NACE branches (Nomenclature statistique des activités économiques dans la Communauté européenne, Eurostat) into their individual reporting systems (financial statement, investor data pool, etc.), as well as into investment limits. Equally, the additional validation guidelines published in the EMIR context have been accounted for in the new release of DIAMOS‐F. An obligatory validation was introduced, enabling the user to detect errors, or wrong deliveries, at an early stage. Adjustments can be made right at the start of the process chain so that follow‐on processes run more efficiently, and the workload for the user can be significantly reduced.

Last but not least, other fields and reports were adjusted and interfaces optimized, which considerably improved the ergonomics and usability. Over and above this, Version 4.0 implemented the FundsXML standard, which was published in 2017 and, for example, will be required for reporting systems in Austria as from July.

"We incorporate valuable customer feedback, new regulatory or legal requirements and targeted functional enhancements into our regular releases," stresses Ralf Gutensohn, Manager Product Design/Product Owner DIAMOS‐F. "These adjustments are driven by our product management to keep our products up‐to‐date and offer our customers the best possible value in their daily work," reaffirms Domingo Santos Marañón, Managing Director Product Management at DIAMOS AG.

DIAMOS has been one of the leading German providers of standard software solutions and services to the investment management industry since 1984. The DIAMOS product portfolio is based on a modern, futureproof system platform and offers flexible and expandable systems that, depending on requirements, can provide integrated solutions or single modules. DIAMOS solutions offer an efficient administration of funds, alternative investment products, retail investment accounts and shareholdings, and support extensive process automation along the entire investment management value chain. The service portfolio includes products for fund accounting, investment compliance, transaction and order management, reconciliation, fee administration, commission management, as well as transfer agency. Additionally, DIAMOS offers comprehensive advisory and support services. All products can be made available as ‘Software as a Service’ (SaaS) and ‘Application Service Providing’ (ASP) solutions via DIAMOS’ ISAE 3402 type 2 certified data processing centre. Leading fund platforms, investment / fund / management companies, custodians / depositories, banks and other financial companies – all value and rely on DIAMOS’ products and services. With its headquarters and a branch office in Germany, DIAMOS is further represented by subsidiary companies in Luxembourg and Switzerland.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development