PowerAgent is highly adaptive to the unique needs of the mutual fund shareholder accounting market. PowerAgent 16.0 was recently released to clients. Some of the new capabilities included in this update are:
- ABLE Act. In December 2014, the ABLE Act was signed into law under Section 529A of the Internal Revenue Code and allows people with disabilities to save towards maintaining their health, independence and quality of life in a tax-exempt way with final guidance on the regulations coming in August 2016. In less than one year, Envision updated PowerAgent to account for this new federal program. This includes enforcing contribution limits, account holders and their beneficiaries online account inquiry, transaction access and new accounts establishment.
- Alternative Investments. PowerAgent fully supports the DTCC AIP file layouts. Firms can now send REIT transactions and other information into the market via the DTCC.
- Money Market Reform. PowerAgent now addresses all of the elements required by Money Market Reform: intra-day pricing and variable NAVs for money market funds as well as the fee and gate requirements which affects both retail and institutional money market funds