Peter Evans, a UK-based back office software application vendor, is launching what it calls a middle office product.
“The new fund management system will link to the company’s existing TRACS back office functions, and is scheduled for a full launch in February 2005,” says a spokesman for Peter Evans. “It will support a wide range of third party back office systems used by banks and financial institutions.”
The Peter Evans approach is highly focused on smooth integration between the back and middle office,” says Managing Director Mike Foley. “The success of our back office system TRACS has led to increased calls for a multi-entity, multi-currency web-enabled fund management offering which operates in real time and ensures smooth and easy reporting for fund managers.”
Foley says the new offering will provide a real-time solution with calculation engines capable of handling portfolio valuations, performance measurement and modelling, capital gains tax calculations and automatic order generation. Output will be displayed via a thin client, in both tabular and graphical formats, giving a comprehensive analysis of portfolio performance.
“We’re excited by the opportunities that creating and developing this new system afford us,” says Foley. Peter Evans’s technical support and development teams are working as a unit to bring this project to fruition – their expertise will ensure that we have one of the best and most effective products on the market next year. It’s also good news for private investors – the system will be configured to ensure accuracy of data and give financial advisors the confidence to impart accurate information to clients.”