CKFR Checkfree Corp (MM)

Principal Global Investors Enters into Separately Managed Accounts with CheckFree APL ATLANTA and JERSEY CITY, N.J., Dec. 10 /PRNewswire-FirstCall/ -- CheckFree Investment Services, a division of CheckFree Corporation , today announced that Principal Global Investors has taken initial steps to provide managed accounts for high net worth investors and is using the industry leading platform, CheckFree APL, for trading, portfolio accounting, reporting and performance measurement. Principal Global Investors is a member of Des Moines, Iowa-based Principal Financial Group(R) . CheckFree Investment Services is the leading provider of outsourced trading, portfolio management, accounting, reporting services and data to broker/dealers and money managers in separately managed accounts. "We are delighted to have Principal Global Investors on CheckFree APL," said Alex Marasco, CheckFree Investment Services executive vice president and general manager. "Our range of efficient, cost-effective services and connections to sponsor programs will help pave the way for a seamless and productive transition into managed accounts." With $110 billion in assets under management, Principal Global Investors has made a commitment to expand its external distribution channels. "In speaking to many of the broker-dealers with managed account programs, it became clear that getting on CheckFree APL was important for us," said Doug Younkin, Principal Global Investors managing director for third party distribution. Mr. Younkin is marketing institutional products and capabilities to broker-dealers through various platforms such as separately managed accounts, closed-end funds and mutual funds. Principal Global Investors is currently participating in two managed account sponsor programs. "Broker-dealers that offer separately managed account platforms prefer aligning with firms that offer multiple investment capabilities. Principal Global Investors manages across a wide range of styles including equities, fixed income and real estate," said Mr. Younkin. "They also want to work with financially sound managers and Principal fits that bill as well." 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 Principal Global Investors ( http://www.principalglobal.com/ ) Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $110 billion in assets, primarily for retirement plans and other institutional clients. About Principal Financial Group ( http://www.principal.com/ ) The Principal Financial Group(R) (The Principal(R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and mortgage banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $134.8 billion in assets under management(2) and serves clients worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. 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 Research Triangle Park, 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 1.3 million portfolios totaling $731 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/ ) CheckFree (NASDAQ:CKFR) is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 23rd year in e-commerce, CheckFree is comprised of three divisions: Electronic Commerce, Software, and Investment Services. CheckFree launched the first fully integrated electronic billing and payment solution in 1997. In the quarter ended September 30, 2003, more than 11 million consumers initiated online payments through services offered by CheckFree's Electronic Commerce division. Electronic billing and payment is available through more than a thousand financial services organizations, including banks, brokerage firms, Internet portals and personal financial management (PFM) software. At these sites, consumers are able to electronically receive and pay about 300 bills, representing the bills most common to a U.S. household. CheckFree delivers nearly 15 million e-bills each quarter. (1)"The Principal Financial Group" and "The Principal" are registered trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group. (2)As of Sept. 30, 2003. CheckFree's Software division provides solutions through three operating units: CheckFree ACH Solutions, CheckFree Financial and Compliance Solutions (CFACS), and CheckFree i-Solutions. CheckFree ACH Solutions provides software and services that are used to process more than two-thirds of the nation's nine billion Automated Clearing House payments, while CFACS provides reconciliation and compliance software and services to more than 500 organizations in the banking, brokerage, utility, retail, insurance and credit card industries, among others. CheckFree i-Solutions is the leading provider of e-billing and e-statement software and services for both business-to- consumer and business-to-business applications, with more billers as clients than all of its competitors have combined. 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, 2003 (filed September 15, 2003), and Quarterly Report on Form 10-Q for the quarter ended September 30, 2003 (filed November 13, 2003). 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. Editor's Note: For media inquiries regarding CheckFree Investment Services, please contact Tim Lane with Aah!Communications, Inc. at 212-685-7322 or tlane@aahcommunications.com DATASOURCE: CheckFree Corporation CONTACT: Judy DeRango Wicks, Media relations, +1-678-375-1595, , or Tina Moore, Investor relations, +1-678-375-1278, , both of CheckFree Corporation Web site: http://www.checkfreecorp.com/ http://www.principalglobal.com/ http://www.principal.com/ http://www.checkfreeinvsvcs.com/ Company News On-Call: http://www.prnewswire.com/comp/821650.html

Copyright