Princeton, NJ USA (August 23, 2001) -- Princeton Financial Systems, the leading global provider of portfolio management and accounting systems, recently entered into a strategic alliance to offer Alphai Pty Ltd.'s MAX Performance System, enabling Princeton Financial's clients to access advanced performance and attribution reporting capabilities.
Princeton Financial, whose PAM portfolio management and accounting system is the premier system in the insurance, mutual funds and pension fund industries, will host the application in its Princeton, New Jersey, data center. The company will provide the MAX application as an application service provider (ASP) offering to its ePAMÔ clients as well as to traditional PAM licensees.
The MAX system is designed for the calculation, analysis and reporting of performance and attribution of global or domestic investment portfolios. Analysis can be done daily down to the security level using all types of securities (physical and derivatives) in any currency. MAX provides institutional investors with functionality that allows them to model their investment decision process by defining a number of parameters relating to a particular investment portfolio and benchmark portfolio. MAX integrates easily with existing portfolio management and investment accounting systems and includes sophisticated functionality such as the Karnosky & Singer methodology for foreign currency management and yield-curve analysis for fixed-income attribution.
"We are pleased to have a well-known industry name such as Princeton Financial Systems endorse the use of MAX for its clients," said Rick Bernier, Director of Global Sales and Support for Machias Solutions, which recently began working with Alphai to provide global sales and support for the MAX product. "The MAX system's global capabilities and fixed-income functionality provide a complete solution for Princeton Financial's clients."
"The alliance of Princeton Financial and Alphai further solidifies our commitment to providing investment managers with robust straight through processing solutions," said Jim Mayhall, Executive Vice President of Princeton Financial. "Our clients now have access to advanced performance measurement and attribution capabilities that will significantly enhance their investment management operations."
Princeton Financial Systems, an independent subsidiary of State Street Corp., is a leading provider of investment management software systems and ASP services for institutional investors worldwide. Its flagship PAM® investment systems provide complete STP-ready front-to-back office functionality that can be licensed for in-house use or accessed via the Internet. Current clients include 335 investment managers, mutual funds/unit trusts, insurance companies, pension funds and banks with combined assets approaching US $3 trillion. The company is headquartered in Princeton, New Jersey USA, with offices throughout the United States and in London, Amsterdam, Brussels, Sydney, Singapore, and Toronto.
Alphai Pty Ltd., headquartered in Sydney Australia, is a leading provider of performance measurement and attribution software to the investment management industry. MAX, the company's flagship product, is the recognized standard in Australia with over US $100 billion in assets under management. Current clients include investment managers, insurance companies, custodian banks and other software vendors. Alphai has recently expanded its sales and marketing efforts by forging a relationship with Machias Solutions to provide global sales and support for the MAX product.