Fund Cos Get Fair Value Treatment
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Thursday, November 18, 2004

Fund Cos Get Fair Value Treatment

Regulatory pressures are not just hitting fund companies. SunGard Investment Management Services is tapping an existing relationship with FT Interactive Data to add a fair value tool to Invest One, the company's mutual fund accounting and reporting software, in response to client demand and market pressure.

Besides providing users with fair value pricing, SunGard built in a comparative reporting tool, so that users can access closing prices, fair value prices and opening prices. Users can then measure the financial impact of fair value pricing on a fund's net asset value, said Paul zur Nieden, vice president and U.S. product manager for Invest One.

The software vendor began development of the tool earlier this year, says zur Nieden and begun testing a few clients on it in April. The tool was available to all clients starting September. Already tested a few clients on it since April

SunGard already has six to eight of its 55 odd clients using the tool, says zur Nieden. Existing Invest One clients do not have to pay additional fees for the service, excluding the fair value price data fees.

Besides enabling the tool for individual funds and specifying confidence intervals for the fair value prices, there's "really nothing more that they need to do," says zur Nieden.

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