with creating and managing proprietary products
COLUMBUS, Ga. (BUSINESS WIRE) Delta Data, a leading provider of software and data management solutions
for the mutual fund industry, today announced the launch of its
Proprietary Product Manager (PPM), a tool that supports the
construction, trade execution and administration of proprietary funds
for trust companies, record keepers, insurance companies and broker
dealers.
PPM allows the creation and management of proprietary products that
include Collective Investment Trusts (CITs), Target Date Funds, Fund of
Funds, wrapped funds, and Variable Annuities. PPM allows seamless
management of custom securities by distributors in a single system of
record alongside traditional mutual funds ― eliminating manual processes
involved in reconciling enterprise systems, which streamlines account
management, strengthens sales pipelines, and reduces risk.
Managing proprietary products has long been a manual and time-consuming
ordeal. Proprietary products carry much more complexity when it comes to
data management and are typically managed in a system separate from ‘40
Act funds where reference data, allocation information and pricing is
supplied by the third-party asset manager.
Because proprietary products are highly customized and have multiple fee
tiers, distributors often carry thousands of slightly different versions
that may have the same lead security. In most legacy platforms each
permutation is treated as an entirely different security, creating
additional work for operations teams tasked with maintaining them. PPM’s
technology tracks the various versions of products and allows users to
initiate changes at the lead security level.
“Large record keepers and insurance companies are the registered advisor
on a lot of proprietary products, and in that role, they have to perform
many functions that an asset manager would traditionally perform,” says
Whitfield Athey, CEO, Delta Data. “However, traditional asset management
tools don’t provide the right approach for what they’re doing. PPM
offers the capabilities that these entities need as they tackle the
operational issues associated with proprietary products.”
About Delta Data
Delta Data provides the back-end solutions that companies in the mutual
funds industry use to process billions of dollars of transactions and
keep on top of their data. With companies in this industry facing
constant change from regulatory, technology, industry, and even internal
sources, Delta Data helps them see the change through advisory services,
get ahead of it with SaaS and installed software solutions, and stay on
course without introducing new risks into their systems. That’s why many
of the biggest names in financial services rely on Delta Data to help
them stay ahead of the change. To learn more, visit www.deltadatasoft.com .
Contacts
BackBay Communications
Hayley Reissfelder
hayley.reissfelder@backbaycommunications.com
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