CheckFree Tops Two Million Portfolios Under Management on CheckFree APL(SM) Platform
19 Outubro 2005 - 12:00PM
PR Newswire (US)
-- CheckFree Investment Services' clients now manage two million
portfolios totaling more than $1.2 Trillion in assets -- ATLANTA
and NEW YORK, Oct. 19 /PRNewswire-FirstCall/ -- MMI Fall Conference
- Managed Account Solutions 2005 -- CheckFree Corporation
(NASDAQ:CKFR) today announced that its client base of professional
money managers and broker dealers is now managing in excess of two
million individual investment portfolios using the CheckFree
APL(SM) platform. The 2 Million mark represents the rapid growth in
Separate Accounts which provide advantages to investors, asset
managers and broker dealers over other investment products.
Separate accounts are attractive to investors because they offer a
customized investment approach to meet an individual investor's
financial objectives, while taking into consideration tax
efficiency. Managed accounts have grown at nearly 17 percent per
year according to Cerulli Associates largely because there is a
common objective to grow the value of the investor's account.
Broker dealers and investment managers also benefit from a
recurring asset-based fee structure. CheckFree APL serves as the
leading portfolio management 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's open platform
enables approximately 90 Wall Street (sponsor) firms and 135
separate account manager firms to interface with each other and
operate in a straight through processing environment. Much of the
recent momentum in the managed accounts industry has been fueled by
newer Rep as Portfolio Manager and Mutual Fund Advisory product
offerings, which are the fastest growing segments according to
Cerulli. Rep as a Portfolio Manager provides the financial
representative with discretion over the investor's account to make
investment decisions and Mutual Fund Advisory delivers asset
allocation through mutual funds. The Mutual Fund Advisory product
is designed to allocate investors' assets across a wide range of
mutual funds. These services include client profiling, account
monitoring and portfolio rebalancing, and an asset-based fee is
charged instead of a commission. The Rep as a Portfolio Manager
program works with a financial representative acting as money
manager for clients by taking full responsibility for selecting a
portfolio of securities. Clients are charged an asset-based fee for
services. CheckFree recently announced the purchase of IDS. The
addition of IDS gives CheckFree connectivity to new broker dealers
that in turn will give CheckFree's money manager clients links to a
larger network of broker dealer organizations. The purchase will
also extend CheckFree's client base to include more participants in
the investment management industry and will allow CheckFree to
drive further growth and lower costs in the market. "The two
million portfolio milestone is important for the financial services
industry as a whole, since the achievement reflects overall
industry growth through innovative products, such as Multiple
Strategy Portfolios, Rep as Portfolio Manager and Mutual Fund
Advisory," said Alex Marasco, executive vice president and general
manager, CheckFree Investment Services. "CheckFree APL supports a
wide range of asset management products with automated workflow
tools and processing services that enable our clients to grow their
assets without adding resources and costs." The expansion of the
industry as well as the proliferation of investment products
validates the need for CheckFree EPL (Enhanced Portfolio
Lifecycle), the company's state of the art technology platform.
This new infrastructure investment by CheckFree has the objective
of taking 50 percent of the cost out of managing these types of
accounts. The first modules of CheckFree EPL are CheckFree's New
Account Workflow and Reconciliation modules. Launched in 2004,
these are already delivering on the commitment to lower industry
costs and drive revenue for CheckFree APL users. 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 $1 trillion in assets.
CheckFree Software develops, markets and supports software
applications that are used by financial institutions to process
more than two thirds of the 12 billion Automated Clearing House
transactions in the United States. The division also provides
operational risk management, financial messaging, corporate
actions, and regulatory compliance software to more than 1,500
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, 2005 (filed
September 2, 2005). 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/
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