"After deciding the parameters for a portfolio in respect of risk, return and the preferred balance between long-term capital growth and income, a fund manager's prime consideration is to maximise after tax return. In this respect, the most relevant tax to consider has been Capital Gains Tax (CGT).

The exercise has been complicated by the introduction of new CGT legislation in the 1998 Budget. We believe that our fund managers should be able to focus on getting investment decisions right without having to work out the tax intricacies of every transaction – MLIM’s new state of the art software provides all the relevant gain calculations at the press of a button, allowing swift investment decisions to be made on behalf of our clients."

Robert Dunbar, Portfolio Manager and Director Merrill Lynch Investment Managers

"Having thoroughly investigated the software market, "CGCalc" was the only package we found that provided our Portfolio Managers with the modelling facilities they needed.

Implementation of the package went smoothly largely due to EFS's ability to react quickly to changes in our requirements."

Sheila Cook, Project Implementation Manager Merrill Lynch Investment Managers

"Having been associated with the ever-increasing complexity of computerised Capital Gains calculations over the last 30 years, I can recommend, without hesitation, Ellis's CGCalc system. It has unsurpassed breadth and depth of functionality as well as accuracy. Despite this, it as friendly as you could ever expect a comprehensive CGT system to be."

"From a development stance, the great advantage is that Ellis have a very good grounding in the technical CGT rules and have designed a system whose structure supports easy change and flexibility. Also, as Ellis know CGCalc intimately they have demonstrated the ability to quickly understand and incorporate enhancements/ changes but doing this with minimal need for meetings and documentation but with the greatest degree of flexibility and common sense. They have also developed an automated regression test bed with numerous computational scenarios that ensures changes only impact where planned."

Bob Boulter Tax Consultant, Coutts & Co