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Hedge Fund Services Selects
Envision Financial Systems' PowerAgent™
June 26, 2003 (Tustin, CA)-Envision Financial
Systems, a leading provider of software solutions to the institutional
and mutual fund industry, today announced that Hedge Funds Services
(HFS) has selected PowerAgent™ as its mutual fund transfer
agent system.
In making the announcement, Tim Kan, Chief Technology
Officer of Envision, said, "We are delighted to add Hedge Fund
Services to our international client list. This is another opportunity
to expand the PowerAgent system into our growing global market.
We look forward to providing HFS with the excellent service for
which Envision is known throughout the funds industry."
PowerAgent™, a Mutual Fund Shareholder
Accounting System, has been the mutual fund transfer agent system
of choice for discerning providers. Since its launch in 1997, it
has met the needs of financial service firms globally. A full-featured
sub-accounting system, it increases productivity, enhances customer
service, and reduces shareholder-servicing expenses. PowerAgent™
is currently installed in over 300 mutual fund groups, and more
than 5,500 mutual fund and portfolio accounts.
"By switching to PowerAgent, HFS will be
able to significantly reduce processing time and costs," said
Michael Kane of HFS. "In choosing a new mutual fund transfer
agent system, Envision was by far the best choice. They have the
necessary in-depth product knowledge to work with our complex offshore
fund administration process."
HFS is a leading fund administrator with over
50 funds under administration. The company administers over 40 funds
including Fund of Funds, corporations, LLC's, partnerships and IBC's.
About Envision
Founded in 1994, Envision Financial Systems, Inc. is a leading provider
of software solutions to the institutional and mutual fund asset
management markets. Using an in-depth knowledge of the financial
services industry and extensive experience in software development,
they create leading-edge global systems that are intuitive, scalable,
and easily adaptable. Their systems are based upon open standards,
helping their clients compete in the ever-changing global environment.
Envision's headquarters are in Tustin, California, with satellite
operations in Owings Mills, Maryland and Bangalore, India.
About Hedge Funds Services
Based in the British Virgin Islands, HFS is a leading fund administrator
with over 50 funds under administration. HFS administers funds from
many jurisdictions including the British Virgin Islands, Cayman
Islands, Bermuda and the United States. HFS is licensed by the BVI
Financial Services Commission and holds an unrestricted Fund Administrator
and Fund Manager license. For more information visit www.hfsltd.com.
# # #
Company Contact: Edward Yang
of Envision at (714) 247-0030 ext. 124.
Media Contact: Jill Paiz-Bourque of Paiz Public Relations
at (415) 538-8660 ext. 102
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