Bonaire reports Revport contract win

Source: Bonaire Software Solutions

Bonaire Software Solutions, a leading provider of revenue management, accounting and business intelligence solutions to investment managers, mutual funds, wealth managers, broker dealers, RIAs and bank/trusts, today announced that one of the top five largest global asset managers has selected Revport to comply with Retail Distribution Review (RDR) regulation.

The asset manager chose Bonaire after carrying out a thorough selection process to find a solution to address new UK regulatory requirements, such as RDR. The firm will be using REVPORT™ to manage its EMEA fund rebates, retrocessions, commissions and fee calculations. REVPORT™ will deliver tangible business benefits, including:

• Lower operating costs and improved efficiency through the replacement of manually intensive spreadsheet-based processes
• Control and calculation of fund or distributor rebates
• Calculation of retrocessions, trailers, sub-advisor pay-outs and fee splits
• Centralize fee-based revenue and accounting data within a single, robust repository

"To be signing such a prestigious global client is a testament to the Bonaire value proposition and the benefits our products can bring to the global investment management industry. With RDR imposing stringent fee transparency standards on investment management businesses, firms need to be accurately billing fees," comments Chris John, CEO of Bonaire. "Asset managers are highly susceptible to errors in their fund rebates and fund expense management. Our REVPORT™ software will ensure that these managers can efficiently and accurately calculate these fees, and perhaps more importantly, comply with new regulations." 

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