Checkfree Corp (MM) (NASDAQ:CKFR)
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Substantial Year-to-Year Growth Recorded in Multiple Strategy
Portfolio Assets on CheckFree APL
-- 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), 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.
About CheckFree Investment Services ( http://www.checkfreeinvsvcs.com/ )
Headquartered in Jersey City (NJ), CheckFree Investment Services provides a
broad range of investment management services to thousands of financial
institutions. The company's staff of 350 professionals operates from six
offices nationwide, including Durham NC, location of its M-Solutions software
applications: M-Search, the leading separate accounts manager database and
analytical tool; M-Pact, a Web-based, enterprise solution for manager analysis,
reporting and proposal generation; and M-Watch, a performance reporting and
measurement system. Clients of CheckFree Investment Services manage nearly 1.6
million portfolios totaling $900 billion in assets. The CheckFree APL platform
is leveraged by asset management, broker/dealer firms and investment advisors
on a remote processing basis.
About CheckFree ( http://www.checkfreecorp.com/ )
Founded in 1981, CheckFree Corporation (NASDAQ:CKFR) provides financial
electronic commerce services and products to organizations around the world.
CheckFree Electronic Commerce solutions enable thousands of financial services
providers and billers to offer their customers the convenience of receiving and
paying their household bills online or in person through retail outlets.
CheckFree Investment Services provides a broad range of investment management
solutions and outsourced services to thousands of financial services
organizations, which manage more than $900 billion in assets. CheckFree
Software develops, markets and supports software applications that are used by
financial institutions to process more than two-thirds of the 10 billion
Automated Clearing House transactions in the United States. The division also
provides global trade processing, reconciliation, financial messaging,
compliance and electronic billing and statement software to thousands of
organizations across the globe.
Certain of CheckFree's statements in this press release are not purely
historical, and as such are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These include statements
regarding management's intentions, plans, beliefs, expectations or projections
of the future. Forward-looking statements involve risks and uncertainties,
including without limitation, the various risks inherent in CheckFree's
business, and other risks and uncertainties detailed from time to time in
CheckFree's periodic reports filed with the Securities and Exchange Commission,
including CheckFree's Annual Report on Form 10-K for the year ended June 30,
2004 (filed September 3, 2004). One or more of these factors have affected, and
could in the future affect CheckFree's business and financial results in future
periods, and could cause actual results to differ materially from plans and
projections. There can be no assurance that the forward-looking statements made
in this press release will prove to be accurate, and issuance of such
forward-looking statements should not be regarded as a representation by
CheckFree, or any other person, that the objectives and plans of CheckFree will
be achieved. All forward-looking statements made in this press release are
based on information presently available to management, and CheckFree assumes
no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation
CONTACT: Media, Judy DeRango Wicks, +1-678-375-1595, or
, or Investors, Tina Moore, +1-678-375-1278, or
, both of CheckFree Corporation
Web site: http://www.checkfreecorp.com/
http://www.checkfreeinvsvcs.com/