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Correctnet Leads the Way in Alternative Investment Solutions

HAUPPAUGE, New York, July 18/PRNewswire/ -- As the second half of 2005 begins, Correctnet announces the achievement of several significant milestones for its infiPoint(TM) data consolidation and publishing platform. By concentrating on providing robust, highly customizable Web-based reporting capabilities for a high-impact vertical segment of the asset management arena -- hedge fund administration -- the firm has achieved rapid, breakthrough success. In only 24 months, Correctnet is the key reporting system for more than US$400 billion in assets spanning 4,000 funds, providing critical product and performance data to more than 300,000 investors and supporting more than 800 white-label enterprise portals. Simply stated, Correctnet handles the reporting needs of more than 40 percent of all hedge funds around the world.

Steve Meyer, Head of Investment Manager Services at SEI Investments, a leading global provider of asset management and investment technology solutions, said: "Correctnet is a valuable partner and one of the key elements in helping us deliver satisfaction to our clients. Their platform has helped us deliver custom-branded reporting solutions and business portals to our clients quickly, reliably, and with all the business functionality they need." Meyer concluded with: "We continue to be pleased with Correctnet's capabilities in the hedge fund space and view them as a valuable part of our offering."

According to Correctnet CEO Robert Miller, the company has no intentions of resting on its laurels. "A common thread spanning many businesses in the asset management sector is the need to assemble coherent collections of data from many different sources and systems, then creating enriched views of that data and delivering it efficiently to end-users and customers. This is Correctnet's particular sweet spot, and we look forward to delivering solutions for a diverse mix of data consolidation, synthesis, publishing, and reporting challenges."