Does the mutual fund trading scandal offer an opportunity to make money as well as lose it? The lawyers certainly think so. And Portfolio Systems, a provider of fund administration and fund management software applications in the United States, reckons it can profit from helping them. The firm has adapted its Portfolio Director product for the legal profession, in order to provide lawyers with the historical return calculations on portfolios that they need to launch law suits on behalf of investors.
“There is an increasing demand from law firms that focus on securities arbitration and represent individual investors,” says Bob Yacobucci, founder and President of Portfolio Systems. “They want portfolio management software for generating supporting documents that is both intuitive and analytical in nature.”
For lawyers building a case against a fund manager, the product aims to provide a number of investigative tools, including portfolio turnover, expense ratios, and comparative analysis. “We have made it easy for the legal community to generate the reports they need without becoming experts in managing a portfolio management system,” says Yacobuccid.
I wonder what the product will do for sales to fund managers?