Quantitative Advantage Looks To CheckFree APL as its 'Steering Wheel' in Separately Managed Accounts
December 02 2003 - 9:00AM
PR Newswire (US)
Quantitative Advantage Looks To CheckFree APL as its 'Steering
Wheel' in Separately Managed Accounts ATLANTA and JERSEY CITY,
N.J., Dec. 2 /PRNewswire-FirstCall/ -- CheckFree Investment
Services, a division of CheckFree Corporation , today announced
that Quantitative Advantage, a Minneapolis area-based money
manager, is using CheckFree APL to administer its managed accounts.
Quantitative Advantage offers separately managed accounts
implemented with exchange-traded funds (ETFs) and mutual funds.
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. "A fairly new entrant in the separately managed accounts
arena, Quantitative Advantage is making a name for itself with the
firm's innovative portfolio strategy," said Alex Marasco, CheckFree
Investment Services executive vice president and general manager.
Adapative Risk Management System (ARMS), the portfolio strategy
developed by Quantitative Advantage for financial advisors/brokers
and their clients, is designed to enhance performance while
reducing risk by utilizing a diversified approach to detect which
sectors, styles and countries are moving in and out of (market)
favor. ARMS is an alternative to buy-and-hold investing, but is not
market timing. Rather than moving out of stocks and into another
asset class, Quantitative Advantage remains fully committed to the
equity portion of each client's portfolio. Market timers look to
come in or out of stocks at an opportune moment, while Quantitative
Advantage stays in the market and has the flexibility to adapt
portfolios into the best performing groups. Quantitative Advantage
is in the process of connecting to 5 custodians through CheckFree
APL. "CheckFree APL gives us a steering wheel to efficiently trade
with each custodian," said John Wing, Quantitative Advantage
president. "Furthermore, having CheckFree APL is a selling point
for us as we approach broker/dealers about participating in their
sponsored programs, because they need to know we can handle the
process of setting up new accounts and facilitate trading."
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 Quantitative Advantage (
http://www.qadvantage.biz/ ) The managed portfolio services of
Quantitative Advantage are available in a variety of models, both
in retirement plans and separate accounts, and are offered through
a growing network of participating brokers, CPA firms and
independent financial advisors across the nation. Quantitative
Advantage, a SEC registered investment advisor, is based in the
Minneapolis area and has recently opened a branch office near
Richmond, Virginia. 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. 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 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 Company's Form 10-K
for the year ended June 30, 2003 (filed September 15, 2003) and
Form 8-K (filed October 21, 2003). There can be no assurance that
the forward-looking statements made in this document 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. DATASOURCE: CheckFree Corporation CONTACT: Judy DeRango
Wicks, Media relations, +1-678-375-1595 or , and Tina Moore,
Investor relations, +1-678-375-1278 or , both of CheckFree
Corporation Web site: http://www.qadvantage.biz/ http:///
http://www.checkfreeinvsvcs.com/ http:///
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