SunGard adds CGix Capital Gains Tax system to Apsys III

Source: SunGard Investment Management Systems

SunGard Investment Management Systems, an operating group of SunGard (NYSE:SDS), today announced the seamless integration of APSYS III with Financial Software Limited's CGix Capital Gains Tax (CGT) solution.

Financial Software Limited (FSL) is a leading provider of CGT solutions to both large and medium sized private wealth investment managers. SunGard Investment Management Systems is a leading international provider of investment management software solutions for the front-, middle- and back-office activities of global asset management firms.

APSYS III is a flexible, multi-lingual, multi-currency, multi-entity, real-time, front-to-back solution designed primarily for financial institutions to serve their private clients. This partnership reflects the ongoing SunGard strategy to adapt APSYS III to UK requirements for onshore clients. CGix provides Capital Gains Tax calculations and a tax optimization solution through a sophisticated "What-if" capability, which calculates the effects of hypothetical sales for real-time forecasting within a client's portfolio. APSYS III UK clients can now enjoy full automation, full UK compliance and extensive reporting functionality of CGT calculations within portfolios.

David Pirrie, technical director at FSL, said, "SunGard is a leading provider of solutions for the wealth management industry. This initiative is a good opportunity to capitalize on each other's expertise and deliver a state-of-the-art straight-through processing environment for the UK."

Daniel Bardini, president of APSYS III at SunGard Investment Management Systems, added, "After a detailed analysis, it seems that CGix is one of the only products within the UK industry to provide a comprehensive solution to the automation of CGT calculations on investment portfolios. By partnering with Financial Software to offer its CGT calculation through APSYS III, we are providing UK wealth investment managers with a reliable real-time solution to better serve their customers."

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