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Rating:Vendor Hustles to Meet Tax Change Needs Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 05, 2003

Vendor Hustles to Meet Tax Change Needs

by: Ki Kim

On the heels of passage of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), Pittsburgh-based Confluence is offering an updated version of its After-Tax Performance Solution that enables mutual fund firms to comply with the changes. The solution is part of the firm's flagship product, FundStation.

The House and Senate passed JGTTRA on May 23, 2003 and President Bush signed it into law five days later. Confluence reports to have been the first to provide an after-tax performance solution to the marketplace in 2001 and again this year, enhancing its solution roughly seven days after passage. The new tax relief is the third major tax change in three years.

"Our after-tax solution will allow companies to concentrate on their core competencies while Confluence monitors and engineers for the evolving after-tax performance calculations," said President and CEO Mark Evans, in a prepared release.

Confluence provides automated data control, data publishing and investment performance software and services. The company reports that nearly half of all US mutual funds rely on its tools and technology. 

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