Press Releases

Envision Financial Systems to Participate in the NICSA West Coast and Midwest Conferences

Satnam Gambhir to Participate on Industry Panel Discussing Cost Basis Requirements

Irvine, CA. November 9, 2009 – Envision Financial Systems, Inc., a leading provider of technology solutions to the mutual fund industry announced today that its Chief Executive Officer, Satnam Gambhir will be providing his insights on the new cost basis rules to the attendees at the National Investment Company Service Association West Coast and Midwest conferences.

The NICSA Midwest Conference will be held in Denver, CO on November 11, 2009.  The NICSA West Coast Conference will be held San Francisco, CA on November 19, 2009. Anyone attending one of these conferences will gain different perspectives on the new rule and learn how Envision and other firms can help them meet the demands.

President Bush signed into law the “Bailout Bill” in October 2008 that in part mandates that mutual fund companies must be able to track tax basis of shareholder investments and provide shareholders the ability to select one of the IRS approved cost basis methods upon which their investments are sold by January 1, 2011.  The ability for shareholders to select their cost basis method and tax lot liquidation strategy allows them to manage their taxable gain or loss efficiently. 

Envision has built an intuitive and robust solution to address the new rule in a simple and straightforward way. A shareholder can simply choose a tax strategy and allow the system to select the appropriate tax lot to sell to meet that strategy.  The shareholder can also perform “what if” hypothetical analyses so they can see the gain or loss they would realize by choosing any IRS approved method. The Envision solution determines a securities cost basis by taking into account all of the potential adjustment situations such as wash sales, transfers on inheritance and reverse stock splits. 

About Envision Financial Systems

Founded in 1994, Envision Financial Systems, Inc. is a leading provider of real-time shareholder accounting software solutions to the mutual fund and financial services industry. Using in-depth knowledge of the industry and listening to its customers, Envision provides its clients with real-time access to data that optimizes productivity, increases customer satisfaction and enables emerging business needs. Envision’s headquarters are in Irvine, California, with offices in Owings Mills, Maryland and Bangalore, India. For more information, visit


Envision Financial Systems Contact:

John Gray

(714) 247-0030; extension 124