Data Solutions
Income Announcement Reporting Service
Does your firm have a problem recording mutual fund income to customer accounts on a timely basis - say Payable +1, or better yet, Payable +0? When you get it recorded, is it always accurate?
If you're like most firms, the answer to both of these questions is "no", especially if you operate in an omnibus fashion with the fund companies.
VMS has a solution to this problem; it's called our Income Announcement Reporting Service, and it will tell you exactly when it's time to pay income on every open end mutual fund your firm holds.
How is this possible?
VMS currently services over 23,000 funds every day on behalf of a large number of the fortune 500 financial service firms. These companies depend on us almost exclusively to notify them when one or more of their mutual funds declare a dividend or capital gain including all the details about that declaration. They also depend on us for accurate and timely reporting of income accrual factors on their daily income funds.
Because VMS services so many funds already, there's a very good chance we cover all of the funds you need. If that's not the case, though, you simply need to give us a list of the additional funds you need, and we will begin servicing them typically within one to three business days.
Features of the Income Announcement Reporting Service
- Coverage of
100% of your
open end mutual funds
- Reporting of dividend and
capital gain announcements on or before ex-dividend date
- The following data elements are
reported with each announcement:
- Record Date
- Ex-Dividend Date
- Payable Date
- Reinvest Date
- Dividend Rate and Long and Short-Term Capital Gain Rates
- Reinvestment NAV
- Daily reporting of accrual
factors on 5,000+ daily accrual funds
- Audited Net Asset Values on
over 23,000+ funds
Please contact us today to discuss how VMS can help you solve your income posting problems. We can be reached by email at vmsportal@vmshelp.com, or by phone at 1-800-867-4357 (1-800-VMS-HELP).