Transfer agent, accounting and administrative firm PFPC has created an online cost basis accounting service specifically for broker-controlled mutual fund accounts. Called PFPC-CBA, the tool automatically calculates gains and losses at the time of redemption for broker-controlled accounts. It also enables broker/dealers to trace the cost of transfers, fund mergers, share class rollovers and stock splits.
Three fund companies, including Eaton Vance, BlackRock Funds and Strong Funds, have signed on for PFPC-CBA.
