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Friday, July 12, 2002

Targeting Fund Firms

by: Tony Pennino

Tamarac Inc. has launched version 3.0 of its tool for financial services institutions, Kevin Britt, vice president of sales and business development, told the MutualFundWire.com. The firm contends that the upgrade will be of benefit to brokers and money managers that sell and distribute separate accounts and other similar products. But the firm has also designed the product to assist mutual fund seeking to jump into the wrap space.

Version 3.0 includes portfolio filtering functionality and batch optimization capability. The filter can be defined along a variety of criteria including: a benchmark common to a number of accounts, tracking error parameters, and specific equity holdings. The batch optimization function allows the user to select a given number of portfolios to be optimized at the flick of a switch.

Other features of the new platform include pre-analysis and post-analysis reporting functions. There are graphs that allow to observe the maturity of a portfolio's gains and losses.

"Many of the functions we have created are designed to increase back office scalability. A number of mutual fund complexes want to get into the wrap business. But there are a lot of roadblocks to that. They are very different arenas. In mutual funds, its one for many. In wraps and separate accounts, in one for one. Tamarac 3.0 helps those complexes make that transition more easily," Britt contended.

He reported that the firm was in several sales processes with mutual fund complexes, and he expected to be making announcements about those decisions soon. He further added that Tamarac would be entering into alliances with LPL and CheckFree.  

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