Investment management and credit solutions provider Linedata has updated its transfer agency and shareholder record-keeping solution, Linedata Mshare.
Version 10.8 of the solution is intended to simplify the management of alternative, traditional and liquid alternative funds, while improving cost efficiency. It includes a new private equity function and a US tax cost-basis reporting module.
The private equity function will allow Linedata clients to provide additional services, without investing in additional software.
It includes a distribution waterfall function for distributing a private equity fund’s assets when it liquidates underlying assets, and clients can recall capital in the event of a capital call being over-invested.
An automated solution for cost-basis tax reporting will calculate the adjusted cost basis for covered and un-covered US mutual funds, adjusting mutual fund data for any corporate actions, such as name changes, splits, and capital gains reinvestment.
This function also tracks and reports wash sales, and will be provided by cost basis calculation specialists NetWorth Services.
The upgrade comes as a response to fund managers looking to gain further business from existing clients and to encourage new business. It can also help asset managers to cope with the increasing demands of complex asset classes and investment strategies.
Justin Hayes, product manager at Linedata, said: “These latest developments ensure that Linedata Mshare remains the transfer agency solution of choice for any firm addressing alternative, traditional, liquid alts or complex fund structures.”
He added: “Linedata continues to invest in its back office products to ensure that our clients can rely on us to meet their administration system needs, in terms of automation, functionality, scalability, regulatory updates and new instrument coverage. These new developments will enable our clients to expand their administration offering.”
Linedata Mshare is part of the Linedata Admin Edge platform, a fund administration service designed for alternative, traditional and liquid alternative funds.
