CheckFree Tops 115,000 UMA Accounts Under Management on CheckFree APL
08 Março 2007 - 11:00AM
PR Newswire (US)
APL Platform Delivers Unique Overlay Management and Advanced
Monitoring and Reporting on Individual Strategies and Overall
Account Performance ATLANTA and JERSEY CITY, N.J., March 8
/PRNewswire-FirstCall/ -- CheckFree Corporation (NASDAQ:CKFR) today
announced that its client base of sponsor firms and professional
money managers are now managing over 115,000 Unified Managed
Accounts (UMAs) on the CheckFree APL(TM) platform. UMA assets under
management on CheckFree APL now total nearly $80 billion and
comprise more than 60 percent of the total industry UMA assets
under management of approximately $125 billion. UMA represents the
next generation of the managed accounts landscape, packaging
multiple investment products such as separately managed accounts
(SMAs), mutual funds and exchange traded funds (ETFs) into a single
managed account environment. By offering a single
account/registration, UMAs enable program sponsors to take a
holistic approach to manage investors' comprehensive portfolios
using a range of investment products that combine multiple asset
allocation plans. CheckFree APL treats UMAs as a single account
with sub-models to improve administration, trading and tax
efficiency and avoid reconciliation discrepancies. The platform
provides advanced overlay management with active or passive
functions to coordinate all the trading activity in a multi-manager
account, including overlay or sub-manager trading. CheckFree APL
offers overlay functions with customizable asset allocations as
well as tax efficient trading via Gain/Loss Trade Modeling (GLTM)
tools. Advanced portfolio monitoring and reporting provide total
account and sleeve level performance, including wash sale and
security overlay monitoring across sleeves. "Multi-style portfolios
and unified managed accounts are expected to cross the $500 billion
mark in assets under management by 2011, representing a combined 35
percent of the entire SMA market (1)," said Alois Pirker, senior
analyst at Aite Group, referencing his report focusing on MSPs and
UMAs. "By leveraging a platform designed to incorporate managed
account and overlay management, firms can provide customizable
asset allocations. This enables them to target specific investors
such as the massive group of retiring baby boomers who are rolling
over their retirement savings." Michael Gianoni, executive vice
president and general manager at CheckFree Investment Services,
said, "As the next generation of managed accounts, UMAs will
further revolutionize portfolio management by providing a complete
financial picture while enabling coordinated professional
management within and across accounts. As a pioneer in this space,
CheckFree is proud that 60 percent of the industry UMA assets under
management now run on CheckFree APL. Leveraging the platform's
advanced overlay management functionality, CheckFree APL combines
both sleeve level and overall account view with advanced monitoring
and reporting to help enhance portfolio performance, mitigate risk
and improve return on investment." CheckFree APL delivers an
innovative, advanced managed accounts platform that provides 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 platform
enables approximately 100 of the top Wall Street sponsor firms and
150 separate account managers to interface with each other, and
operate in a straight- through processing environment. 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 the convenience
of receiving and paying household bills online, via phone or in
person through retail outlets. CheckFree Investment Services
provides a broad range of investment management solutions and
outsourced services to hundreds of financial services
organizations, which manage about $1.7 trillion in assets.
CheckFree Software develops, markets and supports payment
processing solutions that are used by financial institutions to
process more than two-thirds of the 14 billion Automated Clearing
House transactions in the United States, and supports
reconciliation, exception management, risk management, transaction
process management, corporate actions processing, and compliance
within thousands of organizations worldwide. Certain of the
Company'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 the Company's business,
and other risks and uncertainties detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended June 30, 2006 (filed September 8, 2006), Form 10-Q
for the quarter ended September 30, 2006 (filed November 8, 2006)
and Form 10-Q for the quarter ended December 31, 2006 (filed
February 8, 2007). One or more of these factors have affected, and
could in the future affect the Company'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 the
Company, or any other person, that the objectives and plans of the
Company will be achieved. All forward-looking statements made in
this press release are based on information presently available to
management, and the Company assumes no obligation to update any
forward-looking statements. (1) Market Trends in Separately Managed
Accounts 2006: Multi-Style Portfolios and Unified Managed
Accounts,(Aite Group) 2006 DATASOURCE: CheckFree Corporation
CONTACT: Media: Judy DeRango Wicks, +1-678-375-1595, ; Investors:
Tina Moore, +1-678-375-1278, tmoore@checkfree, both of CheckFree
Corporation Web site: http://www.checkfreecorp.com/
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