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ENVISION FINANCIAL SYSTEMS
LAUNCHES
NEW TRANSFER AGENT SYSTEM FOR RYDEX INVESTMENTS
PowerAgent™ enhancements supports Rydex Investments future
growth
and innovative multi-cycle pricing
November 10, 2003 (Tustin, CA)-Envision Financial
Systems, a leading provider of software solutions to the institutional
and mutual fund industry, today announced the roll out of PowerAgent
as the new transfer agent system for Rydex Investments. PowerAgent
will enable Rydex to support future growth of their product line,
reinforce their service, while offering more flexible opportunities
for multi-cycle pricing.
Rydex upgraded their technology to PowerAgent
because their previous transfer agent (TA) system wasn't scalable
to support future growth. "We were on a homegrown TA system,
which limited our ability to support future product and pricing
structures. As an innovative investment company, having the flexibility
to accommodate new products is essential," says Kevin McGovern,
Vice President of the transfer agency at Rydex.
Multi-cycle pricing allows funds to compete
with Exchange Traded Funds (ETFs). Envision is the first TA vendor
to offer this capability.
Satnam Gambhir, President of Envision, said,
"Our work with Rydex shows where the future of TA systems is
going. Our open architecture provides a flexible platform to build
the kind of innovative features that fund companies like Rydex need."
Some of those features include Real Time Cash
capabilities, which help portfolio managers by providing estimated
available cash figures based on held and estimated trades during
critical time periods. This functionality allows managers to make
investment decisions for the underlying portfolio. The RTC capabilities
provide up-to-the-minute information, giving the portfolio managers
the information they need to make decisions quickly and efficiently.
PowerAgent's new functionality for Rydex also
includes:
1. NSCC Support: PowerAgent's NSCC module
gives Rydex expansion capability for future growth.
2. Gain/Loss: PowerAgent currently supports
gain/loss reporting, and is enhancing the system to support wash
sales and additional gain/loss flexibility for individual accounts.
3. Enhanced Load Support: PowerAgent has built-in flexibility
for loads and trailer fees at various levels throughout the system.
Default trailer fee tables or servicing fees may be set at the Share
Class Level, the Fund Level, the Firm Level, the Branch level and
the Rep Level. In addition, PowerAgent provides flexible load support
and/or lot tracking for CDSC, Front Load and No Load Funds.
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.
PowerAgent™, a Mutual Fund Shareholder
Accounting System, is Envision's flagship product and 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. PowerAgent's full-featured sub-accounting system
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.
About Rydex Investments
Rydex Investments is the leader in developing specialized investments
that are essential components of a modern portfolio. Through continuous
innovation, Rydex anticipates the evolving needs of investors. Rydex
is committed to helping investors and investment advisors maximize
the value of our investing tools and strategies and to providing
a level of customer service unparalleled in our industry. Rydex
manages $9 billion in assets via 34 mutual funds, Rydex S&P
Equal Weighted ETF and Rydex SPhinX Fund - a hedge fund of funds.
For more information, please call 800.820.0888 or visit www.rydexfunds.com.
# # #
Company Contacts: Edward Yang,
Envision at (714) 247-0030 ext. 124, edward.yang@enfs.com
Dawn Kahler, Rydex Investments at (301) 296-5360, dkahler@rydexfunds.com
Media Contact: Jill Bourque of Paiz Public Relations at (415) 538-8660
ext. 102, jill@paiz.com
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