the leading supplier of financial software products, STP, training and consultancy services to institutional investment markets worldwide, announced today that PAR (Portfolio Analyst Reporter) is to assist AUTIF (The Association of Unit Trusts and Investment Funds) in the replacement of its existing statistics-gathering system.
Given the complex statistical requirements of AUTIF, PAR's level of functionality comes into its own. AUTIF's statistics team creates sophisticated monthly reports on the business flow and ranking of the 148 investment fund management companies that together represent the Â£213 billion UK mutual funds industry. AUTIF members themselves require such data to compare their business flow and funds under management over time relative to their competitors.
PAR offers greater flexibility to AUTIF and its members by automatically incorporating new products, such as ISAs and OEICs, as they arise. A further key benefit is that PAR enables the reporting of up to 10 years of high quality historical information and analysis by distribution channel.
Anne McMeehan, Director of Communications, AUTIF commented "PAR will allow us to provide member companies with an extremely valuable business monitoring service. It enables them to conduct detailed analysis of their funds under management and sales and repurchase positions relative to the rest of the industry by fund and by distribution channel over time. As such it will be a vital tool for the effective management of their businesses."
She continued, "The new PAR system offers us the more flexible solution that
we need to accommodate the increasing number of product lines. More importantly, it meets our rigorous security requirements and automates many of the current manual procedures, bringing a number of cost and time efficiencies to AUTIF. Furthermore, the report facilities for member companies will be much more advanced."
Concluding, Peter Hudson, Product Marketing Director, Thomson Financial stated "We are delighted that AUTIF has decided to install PAR and we see it as a great vote of confidence in PAR's leading-edge functionality. The PAR system will enable the AUTIF statistics team to save a lot of time on tasks during the monthly reporting cycle and supply professional reports for the industry. On top of this, AUTIF can now add new products and new distribution channels. For AUTIF, the PAR system was the right product as it delivers the right objectives quickly and efficiently."