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PARNASSUS INVESTMENTS SELECTS
ENVISION FINANCIAL SYSTEMS' TRANSFER AGENT SYSTEM
PowerAgent™ provides new technology and flexibility to support
Parnassus strong growth
December 17, 2003 (Tustin, CA)—Envision Financial Systems, a leading provider of software solutions to the institutional and mutual fund industry, today announced that Parnassus Investments has selected PowerAgent™ as its mutual fund transfer agent system.
In making the announcement, Tim Kan, Chief Technology Officer of Envision, said, "We are pleased to be working with Parnassus. Just as they have led the way with socially conscious investing, we are leading the way with TA innovations. We look forward to supporting Parnassus’s strong growth with a powerful and flexible system.”
Parnassus, which has over $1 billion in assets under management, conducted a thorough search of TA vendors before selecting Envision.
Susan Loughridge, Vice President of Shareholder Services at Parnassus said, “We choose our partners as carefully as we choose the companies we invest in, and Envision met all our criteria in having a full-featured product along with the expert personnel to handle our needs. Finding a partner that met both was our number one priority.”
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.
Loughridge adds, “When selecting providers, we found that PowerAgent 4.0’s new prospect functionality was essential to our marketing and transfer agent operations.”
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. For more information visit www.enfs.com.
About Parnassus
Founded in 1984, San Francisco-based Parnassus Investments manages $1 billion in socially responsible mutual funds. More information about the funds can be found by calling (800) 999-3505 or visit its web site at www.parnassus.com.
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Company Contacts: Edward Yang, Envision at (714) 247-0030 ext. 124, edward.yang@enfs.com
Stephen Dodson, Parnassus at (415) 778-0200, sjd@parnassus.com
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