Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Peek Under the Product Tarp Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, May 09, 2001

Peek Under the Product Tarp

Reported by Tamiko Toland

Ernst & Young has become, briefly, a technology provider. The unexpected turn from the accounting firm comes in the form of a tax management software package designed for asset managers.

"It's proprietary, and we're still in the process of rolling it out," said Robert Glassman, tax partner. "At this point, it's in its final stages of development; it will allow mutual funds to improve their after-tax performance without much portfolio manager intervention."

Because the product is not out of the box yet, Glassman was reluctant to elucidate on feature details. The application is an innovation born sometime last year as a combination of client interest and a perceived need in the market.

"We first started to hear there was a need more than a year ago," said Glassman. "We've been developing it over that time. The recent after-tax disclosure release by the SEC has I think heightened it."

As new products roll out for the industry, a common metric will have to be used to compare the relative performance of automated management products against each other and against manual tax management.

"Now, with the SEC's new after-tax disclosure rule, that would be the metric," said Glassman. As far as comparing how his own product stacks up, he explained, "We're in the process of doing that. That's one of the stages of development."

Partner Ravi Singh, based in the New York office, is heading the project.

So, is Ernst & Young getting into the software racket?

"We're generally not a software development company," Glassman dryly quipped. "I think it's probably more of a niche type offering."

Links:
  • Are You Delivering the Bottom Line?, March 9, 2001 

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

  • 3.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2019: Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly




    ©All rights reserved to InvestmentWires, Inc. 1997-2019
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use