Active Index Advisors To Go Live on CheckFree APL
Monday June 28, 9:01 am ET
-- Provider of Customized, Tax Managed, Indexed Portfolios for Separately Managed Accounts to Harness CheckFree APL's Scalability --
ATLANTA and JERSEY CITY, N.J., June 28 /PRNewswire-FirstCall/ -- CheckFree Investment Services, a division of CheckFree Corporation (Nasdaq: CKFR - News), today announced that Active Index Advisors, the San Francisco investment management firm specializing in index-based separately managed accounts, is preparing to go live on CheckFree APL - the premier portfolio management and accounting platform. 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.
"Active Index Advisors does not employ a model portfolio approach but rather customizes each new account in relation to ongoing index changes and prices," said Alex Marasco, CheckFree Investment Services executive vice president and general manager. "As such, the scalability offered through CheckFree APL will perform a key role as Active Index Advisors looks to add many new accounts, each customized and tax managed for the individual."
Active Index Advisors (AIA) combines individual customization and tax management typical of active accounts, with diversification and benchmark correlations common to index investing. Following an index-based approach that seeks to provide a pre-tax return similar to a targeted index, AIA's current offerings include an AIA S&P 500® Index Strategy, AIA S&P 400® Mid Cap Strategy, AIA S&P 600® Small Cap Strategy, AIA S&P 1500® Total Market Index Strategy, AIA S&P ADR/International Index Strategy and AIA S&P Global Index Strategy. All AIA strategies are customized for each investor, and employ active tax management strategies, such as loss harvesting.
"The ability to add maximum value through active tax management is only achieved through true account level individualization," said Russell Parker, Active Index Advisors president. "The Active Index Advisors' approach requires a technology partner who is flexible enough to handle this level of complete customization and can offer tremendous scalability; a combination that only CheckFree can provide."
Active Index Advisors will connect its proprietary trading platform with CheckFree APL to upload trade blocks for execution, receive position information, confirmations, corporate actions and prices. AIA also plans to utilize CheckFree APL to consolidate its back-office data, as well as for portfolio management and accounting, trade routing, reporting and billing. "We intend to get the most usage, front- to back-office, from CheckFree APL," said Mark Adams, Active Index Advisors chief operating officer. "Given that we actively tax manage each client account and provide extensive customization, it's necessary to create and maintain personalized, shadow benchmarks to accurately report after-tax performance. CheckFree APL will give us the capability to easily manage not only thousands of portfolios, but also the thousands of shadow benchmarks that go with them."
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. . .
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