ReFlow Wins Institutional Investor's Operations Management Award for Innovation.SAN FRANCISCO -- ReFlow Management Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an investment services company, which provides liquidity to mutual fund companies has been awarded Institutional Investor's Operations Management Award for Excellence in Best Operations Innovations category. The sixth annual awards event recognized top-notch efforts in the industry. ReFlow is recognized for its innovative Redemption In-Kind service (RIK RIK Royalty in Kind RIK replacement in kind (US DoD) RIK Remove, Install, Know (harmonic accessing) ), which offers mutual funds cost and risk reduction as well as potential tax advantages. "We are honored to receive this Award that recognizes benefits offered by RIK that are unique in the marketplace - providing ETF-like features to shareholders of open-end mutual funds," said Alan Reid, ReFlow's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Along with Custom Tailored Equitization (CTE (Coefficient of Thermal Expansion) The difference between the way two materials expand when heat is applied. This is very critical when chips are mounted to printed circuit boards, because the silicon chip expands at a different rate than the plastic board. ), another new service from ReFlow, RIK has been driving our rapid growth this year." Working in tandem with ReFlow's classic Redemption Service (RS), RIK allows a fund experiencing net redemptions to exchange shares for cash from ReFlow, which takes a position in the fund. Within two weeks, the fund may request redemption of shares ReFlow holds, for which ReFlow expects to request in-kind shares of equal value rather than cash. This exchange process helps the fund lower transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and reduces taxable events, boosting net returns. The idea of RIK service was prompted by the idea of actively managed ETFs, and attempts to blend the investment flexibility of an actively managed fund with the efficiency of an index-based ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). . "ReFlow took the opposite approach and designed a service which brings the transaction and tax efficiencies of ETFs into the mutual fund world," said Alan Seigerman, ReFlow's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . By conducting in-kind transactions, similar to ETF transactions, ReFlow helps actively managed mutual funds maximize after-tax returns for their investors. ABOUT REFLOW MANAGEMENT, LLC ReFlow provides mutual fund companies with liquidity via a set of comprehensive and precise liquidity management services designed to manage flow-driven events and help improve fund performance. ReFlow's liquidity solutions give mutual fund managers greater flexibility and control by optimizing cash and trading strategies to reduce costs and minimize taxable events while allowing them to focus on implementing their portfolio strategy. The company was founded by Gordon P. Getty in 2002 and includes Knight Capital Group as a stake-holder. The Securities and Exchange Commission issued a No-Action Letter No-action letter A letter from the Securities and Exchange Commission agreeing that the commission will take no civil or criminal action against a party, regarding a specific activity. on July 15, 2002 in response to ReFlow's unique solutions. |
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