Substantial Year-to-Year Growth Recorded in Multiple Strategy Portfolio Assets on CheckFree APL
Monday September 13, 9:00 am ET
-- Assets Climb in One Year from $3.2 Billion to $19.3 Billion, another indication that Separately Managed Accounts are becoming an increasingly popular investment strategy --
ATLANTA and JERSEY CITY, N.J., Sept. 13 /PRNewswire-FirstCall/ -- CheckFree Investment Services, a division of CheckFree Corporation (Nasdaq: CKFR - News), today announced that total assets for multiple strategy portfolios on CheckFree APL surged from $3.2 billion to $19.3 billion between June 2003 and June 2004. Recent industry figures compiled by Financial Research Corporation (FRC) indicate that multiple-style accounts have reached $40 billion, and have grown significantly faster than other managed account and fee-based products.
CheckFree Investment Services is the leading provider of outsourced trading, portfolio management, accounting, reporting services and data to broker/dealers, investment consultants and money managers in separately managed accounts.
"These numbers amply demonstrate the positive trend for the separately managed accounts industry, and the trust placed in CheckFree's operations and service infrastructure by separate account sponsor and manager firms," said Alex Marasco, CheckFree Investment Services executive vice president and general manager. "CheckFree is increasingly viewed as a trusted, operational 'guardian' of multiple-style accounts, and CheckFree APL's ability to efficiently support these complex portfolios is gaining widespread industry acceptance as our clients increasingly recommend these personalized investment strategies."
Multiple strategy portfolios provide for the diversified management of a single account, encompassing the investment strategies of multiple money managers. CheckFree APL enables the program sponsor firm to offer a wide variety of investment strategies to their client, while seamlessly including any combination of in-house and external managers. CheckFree APL treats multiple strategy portfolios as a single account with sub-models, thereby averting trading and reconciliation discrepancies.
CheckFree APL serves as the leading separately managed accounts platform, providing remote processing services to sponsor firms, money managers and financial advisors for the automation of investment management, trading, portfolio performance and investor reporting. CheckFree APL's open platform enables approximately 39 of the top 50 Wall Street (sponsor) firms and 36 of the top 40 managers to interface with each other, and operate in a straight- through processing environment. Institutional money managers also use CheckFree APL to enter and maintain account data, manage trades and measure portfolio performance. . .
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