SunGard’s press release says it will offer Delta Data’s FundLinx solution suite on an outsourced basis via the SunGard Transaction Network (STN). The first offering will be Delta Data’s Revenue Manager, a tool for managing mutual fund revenue receipt and allocation, providing full fee disclosure.
The revenue management service available through STN will calculate, track, invoice, post and reconcile account servicing and distribution fees due from fund partners, the announcement said. It will also provide similar services for pass-through payables to an institution’s individual investor base or retirement plan clients.
According to the announcement, the two firms will also provide a new service, Catch-22, to ensure buy and sell side compliance with the SEC 22c-2 ruling allowing mutual funds to impose redemption fees for frequent trading. Catch-22 will seamlessly link the entire data path from the fund companies and transfer agents to the NSCC to the financial intermediaries in order to manage the intricacies of 22c-2 compliance and administration, the company said in its press release.
More information about Delta Data Software is at www.deltadatasoft.com .
Integrated directly with SunGard systems and with third-party systems, STN helps automate the purchase and sale of many securities types, the company said.