Unit Trust / Mutual Funds Solutions
Our Unit Trust/Mutual Funds Solution, known as Xy-Unit Trust System (“Xy-UTS”) , is an application software which comprises modules which assist unit trust/mutual fund managers and companies in administering and managing the operation of their unit trust/mutual fund products and services. It comes with comprehensive functionalities to address the operational requirements of an integrated unit registration system.
Xylog has combined innovative excellence in unit trust application development, with the delivery of software operating in the latest computing environments. Xylog has reduced the technology risk as the solution scale from PC networks to UNIX platforms, whilst delivering the same business function.
If you are looking for a unit trust/mutual funds application system which handles the day-to-day operations and specific requirements of your unit trust/mutual funds operations, please call us for a preliminary study of your needs. We will tailor the solution to meet your requirements as we have the capabilities to provide software customisation support services. We undertake to provide you ongoing systems maintenance and support when you sign a Maintenance Agreement with us and being focused as we are in the unit trust/mutual funds industry, we are in the best position, through our R&D efforts, to supply you with new and improved related software modules and functionalities to enable you to keep pace with the rapid development in the industry.
The solution is developed based on a client-server technology platform designed to provide users with a flexible, scalable, easy to use and intuitive system.
* Unitholders Account Maintenance and Management
This module comes with a full suite of functionalities to manage an investor’s account. Apart from basic features such as sales, redemption, transfer, switching, reversal, certificate management, this module also has some unique features such as savings plan, collaterisation/uncollaterisation and promotional scheme.
* Transaction Processing
The Xy-UTS provides transaction capturing functions to automate the various business processes undertaken in the Unit Trust operation including sales redemption, reversal, transfer, scrip split/merge, replacement and collaterisation. Some of the key product features include switching between funds, insurance management and cooling off period processing.
* Income Distribution – Dividend & Bonus Units
The Xy-UTS provides the functionalities to undertake the distribution of dividend or bonus units to all unitholders registered with the fund upon distribution date. The processing of entitlement is computed based on the number of investment units held which includes the cum-dividend and user- defined rates. The Xy-UTS would also generate the necessary tax warrants and statements to the unitholders informing them on the income distribution. The solution also provides a bank reconciliation module to automate the bank reconciliation of dividend warrants.
* Calculation of Unit Price, Fees and Expenses.
The Xy-UTS computes the unit price for each fund of the unit trust/mutual fund company on a daily basis on each business day. The Net Asset Value (NAV) can be computed daily utilising the Xy-UTS unit pricing feature and the Xy-Portfolio Management System (Xy-PMS) for the valuation of investment assets. The Xy-UTS would compute the proposed issue and redemption price based on agreed management practice.
* Data Query and Analysis
The Xy-UTS gives users a complete and fully integrated business intelligence solution. It provides a complete solution that moves users through query, graphical analysis and reporting facility using intuitive users interface.
* Securities Commission (SC) and Management Reporting
The Xy-UTS provides extensive ad-hoc and periodic, management as well as statutory/regulatory reports. Our approach to reporting combines both pre-programmed as well as user-defined reports. With over 100 pre-programmed reports supplied with the software, users can obtain various holding or ledger reports, transaction reports, management reports, statistical reports, performance as well as exception reports. These reports can be viewed on the screen, allowing a quick look before printing or instead of printing. Reports can be printed “as at” any nominated date.
* Interface to Accounting System
The Xy-UTS allows the setting up of journal interface for exporting of transaction journals to user’s accounting system.
* Fund Maintenance
The Xy-UTS fund set-up allows the users to establish multiple funds as individual fund or an umbrella trust fund. It allows maintenance of fund settings including pricing policy (forward or historic), transaction limits, accouting period, various fund related fees including manager’s fees, trustee fees, entry or exit fees.
Asset Investment Portfolio Management Solution
Xylog’s Asset/Investment Portfolio Management System, better known as Xy-Portfolio Management System (Xy-PMS) is designed to provide comprehensive functionalities to support portfolio management operations in a variety of investment environment such as fund managers, pension funds, trust funds, custodians, banks and life and general insurance companies.
The Xy-PMS has been built with the objective of an investment workflow starting from the front-office, middle-office to the back-office. The Xy-PMS investment system consists of various modules that support different types of investment instruments. This translates into flexibility in upgrading in a modular fashion as your requirements grow. It currently caters for tracking of trading in equities, money market instruments as well as deposit placements. The system tracks from booking through to settlement, valuation and analysis and/or reporting. We are also continuously expanding the Xy-PMS modules to meet the ever-increasing demands of today’s complex investment environment.
If fund/investment management is your core or important business activity, you deserve a sophisticated and effective asset management tool to better help you manage your client portfolio and your investment portfolio. Xy-PMS offers an easy-to-use sophisticated solution to handle your asset portfolio management tasks at a competitive price, so you will never need to depend on the use of cumbersome spreadsheets or grossly expensive solutions that are targeted at large international fund management companies.
The solution is developed based on a client-server technology platform designed to provide users with a flexible, scalable, easy to use and intuitive system.”
The system allows the creation of multiple equity deal type like standard deal, rebate deal, married deal etc. with user definable fee structure.
The system can create multiple client accounts and multiple portfolios for each client. Each portfolio can be assigned different management fee calculation (based on amount type as well as rate type- flat or scaling) as well as frequency. Portfolio performance can be tracked through Time Weighted Rate of Return (TWRR) on daily valuation method or whenever cashflow occurs and allows calculation to be based on user selected range of dates.
The Xy-PMS system also allows the creation of different menu screens for different users based on access setup. It allows the setting up of journal interface for exporting of transaction journals to other accounting systems. Journals can be generated by range of clients, fund and confirmation date and may be grouped by fund, client or client type.
* Stock & Shares Module
The Stock & Shares Module of the Xy-PMS features the recording, reporting and valuation of equity instruments such as ordinary shares, options and warrants, preferred shares, rights and convertible stocks. It provides functions like booking, tracking and allocation of trades to various client portfolios. The Xy-PMS also takes care of corporate actions such as dividends, conversion, rights entitlement and bonus issue.
The Xy-PMS supports multi-currency transactions, scrip/scripless processing, corporate actions and mark to market. Xy-PMS can be interfaced to information feeders such as Bloomberg, Reuters, Bernama, Blue-Chip or KLSE Chilong.
* Money Market Module
The Money Market Module handles deposits, redemption and renegotiations of money market transactions for all terms and rates as a lender. It supports instrument class like placement, Negotiable Instrument of Deposits (NID), Discounted Instruments and Bonds. lt also automatically calculates interest accruals, maturity of interest receivable and allow pre-maturity of placements and accomodates various interest periods including compounding rollovers.
* Client Management Module
This flexible module enables the professional fund managers to handle multiple clients against multiple portfolios. It takes care of capital injection and withdrawal, fee management and performance management and analysis. It also comes with a suite of reports that are suitable for presentation to your clients.
* Settlement Module
The Settlement Module allows tracking, receipt and reconciliation for receivables or payables either from system generated or manually entered. It also supports partial settlements as well as multiple transactions per settlement. Users can monitor the cashflow, from time of income announcement, through entitlement calculation, accrual, receipt processing and client reporting.
* Limits And Exposure Module
The Limits & Exposure Module allows Fund Managers to specify the tolerance level against counterparty or sectors of stocks. This feature is extremely useful to assist the Fund Managers comply to guidelines from Investment Committee or Statutory Bodies.
* Reporting Module
The Xy-PMS comes with a powerful and flexible reportwriter. Users can compare and contrast data and perform categorical analysis. Users can also create bar graphs, 3D bar graphs, pie charts, marker charts, stacked bar charts, line graphs and more. With the Custom Toolbox option, users can even define their own report formats.
The Xy-PMS provides an extensive 60 pre-programmed reports, ad-hoc reports and management as well as statutory reports.
An InvestLink product is typically a hybrid between a unit trust offering coupled with a life insurance product and represents the participation of many life insurers in the unit trust market.
Xylog has developed a comprehensive Xy-InvestLink solution to cater to such organisations which offer such InvestLink product. The Xy-InvestLink system provides the solution to manage the key business processes of an Investment Link operation which includes Unit Registration, Investment, Insurance Management, Settlement and Accounting. Xylog would work hand-in-hand with you to customise and integrate the Insurance Management module to your insurance product features. In addition, the Xy-lnvestLink comes with an optional imaging and workflow feature which scans and manages frequently accessed physical documents in the Investment Link operations to facilitate multi-user access and retrieval of paper based information.
The solution is developed based on a client-server technology platform designed to provide users with a flexible, scalable, easy to use and intuitive system.
If you are planning to set up an Investment Link fund, Xylog can help you establish the entire Investment Link operations. Our capacity to offer you business operations establishment services along with our Xy-InvestLink systems implementation and customisation make us a good and potential business partner in your fund set-up endeavours. We can assist you define and facilitate the execution of the preparatory activities leading to the launch of your Invest Link product.
We assist organisations undertake the following key establishment activities:-
- Establishment of Unit Registration Organisation Structure
- Unit Registration Operations Definition
- Operational and Systems Procedures Development
- Agency Structure, Profile, Recruitment and Training
- Investment Link Financial and Accounting Management Information Systems Definition
Systems and Procedures Training
- Unit Registration Operations Supervision Assistance and Computerisation and Software Implementation Services for Investment Link Operations.
The Xy-InvestLink System enables Investment Link Managers with the capabilities to maintain investors’ accounts, undertake transaction processing, maintenance of investment certificates and policy statements, production of documents, bonus and dividend distributions, sales agency maintenance as well as flexibility in reporting.
Main functions provided are:-
* Policyowners’ Account Maintenance
These functions maintain investor’s account information as well as investment transactions such as sales (for single and annual premiums), redemption (part and full surrender, and death claim), transfer, switching and reversals. This application module also allows the maintenance of promotion scheme and auto calculation of promotion bonus based on user defined rates.
The Xy-ILS also handles creation of savings plans for investors. In addition, the Xy-ILS also track investor’s ledger and current holdings in single or multiple funds, and the generation and maintenance of unit certificates including splitting, merging, replacement as well as collateralisation or uncollateralisation to financial institutions.
* Transaction Processing
The Xy-ILS has the functionalities to automate the various business processes undertaken in the investment link operation. Some of the key product features includes :-
* Switching Between Funds
Policyowner have the flexibility to switch part or all of their investment between the Funds as they feel appropriate. The Xy-ILS automate the internal processing of fund switching and the computation of switching fees.
* Single and Annual Premium
An investment link product can be a single premium product or an annual premium product as required by the policyholder. The Xy-ILS provides the processing capability to address multiple purchases of policies and to effect deductions.
Part or all the investment may be withdrawn by redeeming the units in a fund. The Xy-ILS automates the redemption function for part surrender and full surrender of the policy.
* Benefits Processing
The Xy-ILS also undertake the processing of death benefits and Total and Permanent Disability Benefits, and the termination of policies.
* Cooling Off Period Processing
Policy owners have the right to cancel the policy within the cooling-off period of the delivery of policy. The Xy-ILS automates the redemption of units at the redemption price of the fund and computes related fees initially charged that need to be refunded to the policyholder.
* Income Distribution Processing
The income of an investment link fund may be made up of dividends, interests and other distribution paid on the Fund’s investment in other trusts, and gains and losses made from the sale of investment held by the fund. This income of a fund is effectively distributed to policyowners periodically through automatic reinvestments of income as it is received.
The Xy-ILS provide the functionalities to undertake the distribution of dividend or bonus units to all policyowners registered with the fund upon distribution date. The processing of entitlement is computed based on the number of investment units held which includes the cum-dividend and user-defined rates. The Xy-ILS would also generate the necessary tax warrants and statements to the policyowners informing them on the income distribution. The Xy-ILS also provide a bank reconciliation module to automate the bank reconciliation of dividend warrants.
* Query, Analysis And Reporting Modules
The Xy-ILS utilises the BRIO Technology to give users a complete, fully integrated business intelligence solution. It provides a complete solution that moves users through query, analysis and reporting facility using intuitive users interface.
In tandem with BRIO, the Xy-ILS provides extensive ad-hoc and periodic, management as well as statutory reports to the Investment Link Managers. Reports can be viewed online before being printed. Specific customisation can be undertaken to BRIO Tabular “Pivot” Analysis feature to allow underwriter quickly and effectively carries out a series of assessments including examine the life assured age, sum assured, occupation, moral hazard, and health disclosure to determine the policy premium.
* Forms and Notices
The Xy-ILS captures all the information required to undertake the processing requirements of investment link. Once the application has been processed, transaction statements can be generated and forwarded to the policyowner confirming the premium invested, the initial service and administration fees deducted, the mortality charge deducted, the number of units issued, the issue price and the date the units were issued. In addition, the amount of the death and TPD benefits can be shown.
* Calculation Of Prices, Fees and Expenses
The Xy-ILS allows the funds to be value the investments and calculate the unit price for each fund on a daily basis on each business day. The net asset value (value of the fund investment and cash held less a deduction for the management fee, less the liabilities of the fund, including any provision for future liabilities) can be computed daily utilising the Xy-ILS unit pricing feature and the Xy-Portfolio Management System (Xy-PMS) for the valuation of investment assets. The Xy-ILS would compute the proposed issue and redemption price based on agreed management practice.
* Agency Module
This module enables the Investment Link operators to manage its institutional and retail sales agents in multi-tiered environment by providing comprehensive functionalities in the area of registration, promotion of agents, tracking of sales performance and calculation of commission.
* Insurance Management
The insurance module in the Xy-InvestLink System is an integrated life insurance and investment link management information system. It allows parameters such as age limit, maximum and minimum coverage and multi-tier coverage environment and performs computation of amount of insurance coverage needed.
The system provides extensive underwriting information on the policy owner’s age, sum assured, occupation and moral hazard, health and policy premium that allows underwriter to review the risk without accessing to underwriting tables.
The system is also capable of extracting data from the core life system to satisfy customer enquiry in terms of policy status, claim status, policy coverage, payment and transcation listing.
Utilities Billing and Revenue Collection Solution
For many utility-based companies, whether they are in the water, electricity, telecommunications or waste industry, having an effective billing and revenue collection system is a critical success factor (CSF) to their entire operations. An effective billing and revenue collection system must not only enable proper bill generation, payment processing and credit control but also allows for useful customer information analysis and reporting to assist financial controllers in revenue management. The Xy-Utilities Billing and Revenue Collection has been designed with exactly this in mind and has been customised to meet the billing needs of the Malaysian utility industry.
No utility company will always have the same billing micro-functional needs as another as billing systems inevitably need to integrate seamlessly with the nature of the utility company’s tariff structure as well as its business operations for them to work as they are supposed to. Due to internal operational pecularities, many Malaysian utility companies have either developed their own systems or procured foreign packages only to substantially customise them subsequently. The Xy-Utilities Billing and Revenue Collection now offers you a cost effective utility billing system with built-in flexibility to meet your local billing requirements.
Xylog can provide project management to undertake the implementation of the Xy-Utilities Billing and Revenue Collection at your site. Apart from systems implementation and customisation, we will also undertake to provide billings advisory services as part of an entire project. As part of the billings advisory services, we aim to outline an overall billings strategy incorporating infrastructure, operations and cashflow management as well as ensuring the newly implemented system generates the desired MIS report to assist your management decision making process.
If you intend to upgrade or replace your billing system to our offered system, we will also provide you data conversion services to ensure seamless data transfer from your old system to the desired new system.
Xylog is also keen and willing to discuss business proposals with utility companies which are keen to outsource their entire billing function to an independent third party. Xylog can provide such companies with a troubled-free billing outsourcing services for a transactional-based fee.
GUI/Character User Interface
Application Environment- UNIFY ACCELL SQL / VISION 3.1
Data Access Method – ORACLE SQL Server
RDBMS – ORACLE RDBMS / SQL Anywhere
DB Administration – SA Companion / SQL Monitor
Operating System – UNIX / WINDOWS
Communication Services – Novell / Ethernet / TCP/IP
Centralised Processing or Distributed Access
Bill Master and Transaction Maintenance
The billing function also uniquely includes criteria-based bill suspension features, bill adjustment, cancellation, regeneration and rebate features.
2. Customer Information
The system allows tracking of customers that choose to pay on instalment basis or who sign up on prepayment offers. It also enables customised reporting on Customer payment profile by geography (e.g states/district).
3. Credit Control
Apart from providing credit analysis, credit limit approvals/disapprovals, deposits analysis and ageing information, the system also enables the generation of bill reminders and where necessary, notice to stop/terminate services.
The system has also been designed to incorporate bill collection function being undertaken by an independent collection agent (e.g Post Office). It also provides reporting on the various mode of receipt collection (cash/cheque/credit card/standing instructions), receipt collection by classification and street locations.
Variable Based Tariff
Fixed Based Tariff
The built-in tariff table has been designed to allow for a combination of fixed and variable tariff structure to suit the allowed tariff that is enjoyed by the utility company concerned.
Workflow and Imaging Application Solution
Greater market competition today necessitates greater corporate emphasis on customer service responsiveness and faster turnaround in management decision making. This places increasing importance not only to the availability and access to information but the speed of access to the information. Workflow technology combined with an appropriate imaging solution can help corporations improve productivity and turnaround cycle times (such as process application/ redemptions/approvals etc) by establishing a discipline over document management, filing, storage and retrieval. The end result is avoidance of processing bottlenecks of documents such as physical claims/application/redemption forms. The bottomline to companies is that they would be able to handle more business without increasing administrative costs as employees can now have instant access to the information they need to do their jobs anywhere throughout the company.
In summary, workflow/imaging technology helps provide :-
- a built-in systematic routing in the flow of documents throughout the company designed in accordance with specified business processes of the company;
- security access to the scanned documents residing in the network through appropriate security access definition;
- the sharing of documents throughout the company’s geographical boundaries via a network link, thereby reducing physical paper document flows and cutting down cycle time in referrals and approval processes;
- a native viewing of documents of various formats on your personal computer;
maintains an organisational discipline over document management especially indexing and storage, so files and documents can never get lost or misplaced;
- a transparent integration with your office system (word processor/spreadsheet etc).
Xylog can first help you better define and streamline your business process, usually for an activity involving paper processing in which fast turnaround time is important. Given your business volume and parameters, we can then implement a workflow solution and integrating it with an appropriate imaging technology. A workflow solution implementation exercise would involve quantifying costs-benefits, examining document types, rated throughputs and data caption mechanism, document process flow and definition of process rules, storage and imaging systems selection and definition, document indexing framework and methodology, network integration and of course conversion of physical documents into electronic format through scanning device.