Price Waterhouse Spins Off Systems As Pioneer Mulls Mfact

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Price Waterhouse has spun off its management systems, Impact and Mfact, to a limited partnership that includes Nigel Wilson, the systems' designer, and several domestic and foreign partners. The sale comes as $7 billion Pioneer Group Inc. considers the replacement of its Integrated Decision Systems Investment Manager II system with Mfact, a mutual fund version of Impact, the investment management system.

Wilson, the head of the Price Waterhouse subsidiary responsible for marketing Impact, con

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