Lombard, IL (Vocus) February 11, 2010
Unified Fund Services (UFS) has selected SunGard’s Asset Arena Investment Accounting, a global investment accounting and reporting solution. A wholly-owned subsidiary of Huntington Bancshares, Inc., Indianapolis-based UFS is a comprehensive provider of fund accounting, transfer agency, administration, distribution and other services for mutual funds.
Utilizing rules-based exception management processing, Asset Arena is a flexible solution that helps manage an organization’s unique workflow requirements and automate critical accounting functions, such as portfolio valuation and daily accruals of income, expenses, fees and cash movements. Asset Arena helps asset managers and servicers to identify and resolve operational risks, improve process efficiency and provide transparent reporting. UFS will use Asset Arena on an application service provider (ASP) basis, which will help the firm manage high volumes of transactions within a resilient and reliable infrastructure.
Brian Blomquist, president of Unified Fund Services, said, “We needed a functionally-rich, scalable solution that could support our growing business. Asset Arena’s functions, such as exception management and dashboard reporting, will help us improve the efficiency, control and risk mitigation within our operations. The resulting increased automation will help provide us with flexibility to focus on expanding the value-added solutions and services we offer our clients.”
Doug Morgan, president of SunGard’s institutional asset management business, said, “We are pleased that SunGard’s Asset Arena is the solution of choice for forward-thinking service providers like Unified Fund Services. Our global platform helps asset managers and servicers evolve their fund accounting processes and adopt more sophisticated approaches to meeting today’s complex demands.”
About Unified Fund Services
Founded in 1952, Unified formed the first Indiana-based mutual fund in 1963. It has been providing mutual fund service solutions for existing mutual funds and start-up funds over 47 years. It currently services 38 clients with over of $9.5 billion in assets. Unified’s turnkey services include mutual fund accounting, administration, transfer agency, compliance support, distribution and custody services with both standalone and series trust solutions. In 2006, Unified Fund Services, Inc. and Unified Financial Securities, Inc. became wholly-owned subsidiaries of Huntington Bancshares, Inc. (NASDAQ: HBAN), a $52+ billion regional bank holding company headquartered in Columbus, Ohio. More information is available at http://www.ufsonline.com.
About Asset Arena
Asset Arena is SunGard’s global suite of products and services for asset managers, institutional investors, and traditional and alternative fund administrators. Asset Arena supports the core functions of the asset management industry including investment management, investment operations and investor servicing. By leveraging technologies such as business process management and software-as-a-service, Asset Arena helps investment firms manage complexity, increase efficiency, and reduce costs and operational risk, while maintaining agility to respond to changing business and regulatory requirements. For more information visit http://www.sungard.com/assetarena.
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at http://www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Asset Arena are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.