Linedata upgrades Icon system

Source: Linedata Services

Linedata Services, a leading provider of software and services to the global financial services marketplace, is pleased to announce the release of the latest version of Icon, a best-of-breed fund management and administration system.

This major release contains multiple enhancements, the highlight being a significantly enhanced Collective Investment Pricing (CIP) module. This is a highly flexible mechanism for pricing multi-class funds, providing the power to implement a fund manager's decisions on how the fund should operate.

In keeping with Linedata's toolkit methodology for Icon, the new CIP module offers a range of configurable business operations that can, in combination, handle any type of fund. This new module enables Icon customers to react even more quickly to market changes, for example, the choice of either a single- or dual-pricing basis proposed by the FSA for Authorised Unit Trusts and ICVCs (Investment Companies with Variable Capital), which is expected to come into effect in February 2007. Icon's enhanced functionality will now allow customers to start developing new products well ahead of this date.

Paul Westgate, Icon Product Manager for Linedata Services, commented, "Modern investment solutions, like Icon, should allow customers to take advantage of innovations in the market as and when they occur, rather than limit what they can do. The toolkit methodology in our back office fund accounting solution means that customers can adapt the current version of their system very quickly to handle new requirements, without having to wait for a new release."

Throughout its history, Icon's ability to handle collective investment schemes from traditional unit trusts to multi-class ICVCs has been a key differentiator. The scope of the CIP module's development was wide-ranging with active customer participation, which has further strengthened this area and positioned Icon well for the future.

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