NEWRIVER LAUNCHES VIRTUAL DOCUMENT WAREHOUSE SERVICE

Posted March 5, 2008

ANDOVER, Mass. – Mutual fund document and data repository provider NewRiver Inc. has launched the NewRiver Virtual Document Warehouse, a comprehensive data warehouse that supports mutual fund distributors planning to adopt the SEC’s proposed Summary Prospectus rule, which would allow funds to provide just short, summary prospectuses for investment offerings, only having to post full-length long versions online.

“With the advent of the SEC’s Summary Prospectus Rule, firms can better meet the needs of their customers by delivering prospectuses in the form and length they desire and more importantly realize even greater cost savings by shifting to a digital, print on-demand model,” says Russell Planitzer, President and Chief Executive Officer of NewRiver. “For those clients who still prefer to receive paper-based communications, NewRiver Virtual Document Warehouse [VDW] enables them to combine both the trade confirm and the prospectus in a single mailing which will improve the overall investor experience, reduce waste and eliminate unnecessary costs and fulfillment.”

NewRiver's VDW can also be used by 401(k) providers to enable 404(c) compliance. Since maintaining inventories of mutual fund documents can become cumbersome as trade volumes fluctuate and compliance documents change, VDW ensures the necessary documents will always be available for distribution.