Gamco Opts For Security APL Dropping ADP's Pars Bureau

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Rye, N.Y.-based Gabelli Asset Management Co. (Gamco) has installed Unix-based portfolio management software from Security APL to replace its current bureau service for portfolio appraisal and reporting. Testing began soon after the decision was made last November; the firm plans to go live with the system this spring.

Gamco cites cost savings as one reason for moving away from its current bureau service, Automatic Data Processing Inc.'s Pars, to a largely in-house, Unix-based system.

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