FOR IMMEDIATE RELEASE

Media Contact:
Robert Minicucci, Warner Communications, 603-488-5856, robert@warnerpr.com

Webinar Helps Fund Administrators as Money Market
Reform Rule Reporting Challenges Hit the Back Office

Confluence Webinar Addresses Unprecedented Frequency,
Turnaround and Data Tagging Challenges of New Rule

(Pittsburgh, PA – April 15, 2010) Confluence, a global leader in investment management data automation, today announced a webinar for fund administration and technology executives on what it calls “the greatest reporting challenge to hit the back office.”

The company will hold an informational webinar to explore the impact of the SEC-mandated Money Market Fund Reform Rule on back-office reporting. The new rule not only requires more frequent and detailed reporting, but mandates an unprecedented five-day turnaround. It also requires fund administrators to prepare and validate complex eXtensible Markup Language (XML)-based regulatory filings and create web-ready content files. The session will help participants grasp the magnitude of the challenge ahead, and set forth options to take the anxiety out of readiness planning.

The complimentary webinar will take place Thursday, April 22 from 11:00 - 11:45 AM ET. Matt Hoffman, Senior Manager, Investment Management Services Group, Deloitte & Touche, LLP, will moderate a discussion with two panelists from U.S. Bancorp Fund Services, LLC—Jeanine Bajczyk, Vice President, Counsel and Legal Compliance Officer, and Eric VanAndel, Vice President, Fund Administration and Compliance. Scott Powell, Senior Market Analyst, Confluence, will accompany the panelists.

“The Money Market Fund Reform Rule is profound proof that we’ve entered an era of serious regulatory concentration on transparency and control. The rule adds complexity to fund administration, and increases the risk of related reporting errors. Fortunately, earlier XML-based filing programs have helped fund companies develop best practices for streamlining back-office operations while improving reporting accuracy,” said Mr. Powell.

The panelists will discuss operational challenges the Money Market Fund Reform Rule presents to the back office; a risk assessment of each option for achieving compliance; how XML content requirements are transforming fund reporting; and lessons learned from other filing programs. U.S. Bancorp Fund Services, for instance, has participated in the SEC’s voluntary program for filing Schedules of Investments using XBRL (eXtensible Business Reporting Language, a “subset” of XML). In addition, the company was one of the first to participate in the SEC’s Voluntary Program for Risk/Return filings, also involving XBRL.

This event is the second in a series of Confluence-sponsored webinars to help fund administrators and their technology peers avoid pitfalls as they prepare for the coming age of eXtensible content. The event is also open to technical business analysts. To register, please visit www.confluence.com/GETCONTROL.

About Confluence

Founded in 1991, Confluence is a global leader in fund administration automation. Confluence helps investment management companies gain unprecedented control by automating every step of the fund administration process—including the collection, creation, confirmation, and delivery of investment product data. Results are lower costs, reduced risk, decreased reporting turnaround times, and the scalability to automate more processes without additional resources. Confluence solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. The Unity™ platform from Confluence addresses a wide range of problems from performance measurement to customized reporting for a full array of domestic and international managed investment products, including mutual funds, funds of funds, collective funds, separate accounts, and variable products, as well as hedge funds and other alternative investments. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with key locations in London and Luxembourg. For more information, visit www.confluence.com or e-mail info@confluence.com.

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