Principal Global Investors Enters into Separately Managed Accounts with CheckFree APL
Wednesday December 10, 9:01 am ET
ATLANTA and JERSEY CITY, N.J., Dec. 10 /PRNewswire-FirstCall/-- CheckFree Investment Services, a division of CheckFree Corporation (Nasdaq: CKFR - News), 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® (NYSE: PFG - News). 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. . .
biz.yahoo.com |
