Urdorf, 22 November 2018 | The solution developed by Profidata in collaboration with KPMG and XENTIS customers has been successfully in use since the first valuation date in January 2018. For all capital management companies that implemented the Investment Tax Reform Act (InvStRefG) with Profidata's XENTIS investment management system, the highly automated transition took place at the end of 2017 with virtually no effort. Looking back over the past ten months, it can be said that XENTIS users are able to calculate and publish investor-related tax figures in accordance with InvStG 2018 with virtually no problems and process those from external capital management companies for target funds. The fact that the effort required for subsequent corrections and adjustments at XENTIS KAGs in 2018 was minimal underscores the quality of the XENTIS solution.

Dr Christian Popp, Member of the Management Board of Helaba Invest Kapitalanlagegesellschaft mbH:

"The InvStRefG has presented the entire industry with enormous challenges. Profidata's professional and technical moderation of the implementation process for the InvStRefG and the timely implementation of the technical requirements, which changed at short notice (and are still changing), helped us greatly in this situation. The guidance and support provided during the migration of the funds to the new procedures through extensive automation and personnel support were excellent. We were able to start production in accordance with the new rules at the beginning of 2018 on schedule and without any major problems. Overall, we are extremely satisfied."

Joachim Treppner, Member of the Management Board of Metzler Asset Management GmbH:

"With Profidata's support, we were able to implement the InvStRefG in XENTIS in time for 1 January 2018. At the same time, we were also able to implement a new, lean and uncompromising mapping for regulatory accounting, ensuring that we are well equipped for the future."

Sarah Görke, authorised signatory and head of the tax department at BayernInvest Kapitalverwaltungsgesellschaft mbH:

"The sheer volume of highly complex issues, coupled with the multitude of legal uncertainties and very tight implementation deadlines, had at times made the reform of investment taxation seem like an insurmountable obstacle for the KVGen. However, through close and intensive cooperation between Profidata and the XENTIS KPVs, this hurdle was successfully overcome. We will certainly have to make a few adjustments once the tax authorities have announced their full interpretation of the new reform law. But we can all be very proud of the status quo achieved so far. We would like to thank Profidata in particular for ensuring that everything ran smoothly during the migration phase at the turn of the year 2017–2018. In our view, this was not a matter of course and was testament to outstanding preparation and planning."

Profidata Group

Founded in Switzerland in 1985, the Profidata Group offers software solutions for investment and wealth management as well as services for financial service providers. Its headquarters are located in Urdorf near Zurich. The company has offices and representative agencies in Frankfurt am Main, Saarbrücken, Luxembourg, London and Singapore.

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Ralf Spöth
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Profidata Services AG
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ralf.spoeth@profidatagroup.com