is turning its eye towards smaller fund companies that lack the technological underpinnings to use its higher end products. The new tool will enable fund firms to use the Internet as a platform when calculating and broadcasting performance.
The new product is dubbed FundStation.net
. The software vendor claims that 40 percent of US mutual funds use its software to calculate and broadcast performance.
This new Net offering, however, extends the company's market to
fund companies that lack information tachnology (IT) infrastructure or prefer to outsource.
"For many mutual fund providers, using FundStation.net will lower the overhead costs associated with calculating the daily, monthly, quarterly and annual information they must provide," said Mark Evans
, Confluence president. He added, "I was surprised that even companies with infrastructure are now inclined to outsource." The company is presently developing software to help individual investors track performance.
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