Colonial Confronts Clients Over Support Of ITS System

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Mutual fund company Colonial Group Inc. has ceased marketing its Colonial Portfolio Accounting System, C/PORT, and is facing off with users over its support of the system. Customers are seeking a five-year guarantee of programming support for C/PORT, while Colonial, which uses C/PORT itself, is offering only three.

Between them, C/PORT clients manage some 10 percent of all U.S. fund assets under management. Users include $100 billion Fidelity Research & Management Co., $50 billion Franklin Re

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