Dozens of mutual funds and ETFs weren’t able to accurately price securities this week, thanks to problems from SunGard Data Systems.
BNY Mellon says the SunGard system began tweaking early this week, limiting capacity, the Wall Street Journal reports. The problems “impacted a limited number of fund accounting clients and the processing of net asset values of certain mutual funds and ETFs,” BNY says in a statement. The problem is unrelated to the market swings Monday.
Funds from Voya Investment Management and Federated Investors, as well as others, have been affected. The firms may need to reprocess trades.
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