NEW YORK, NY, November 14, 2005 – Correctnet announced today at the 4th Annual Fund of Funds Forum—running from Nov. 14-16 at the New York Helmsley Hotel—the development of a suite of rapidly deployable investor and portfolio reporting packages designed for use with all major accounting and portfolio systems in use by fund of funds and hedge fund asset managers and their service providers.
One of the co-chairs of the three-day event, Correctnet CEO Robert J. Miller commented: "With over 40 percent of worldwide hedge fund assets reported somewhere in our network, and data from almost all of the major systems being consolidated by our infiPoint services, the time was right to apply our know-how and infrastructure to truly generalize the reporting process."
The new product suite, infiPoint|Universal, will be available as a managed service to firms large and small. The service requires minimum configuration work because it consumes the standard extracts and reports of mainstream application systems. The result is a secure, high-end reporting platform typically deployed in 30 days.
"A framework for aggregating data from multiple back-office systems and distributing it in an efficient manner is a basic building block of a successful information management plan," Miller maintains. "By giving thousands of firms access to these capabilities, we believe we will continue to drive standardization in this area."
The company also has plans to release a similar suite in Q1 2006 to cover the major risk analytics platforms.
Mr. Miller is joined at this week’s event by several hundred high-profile financial practitioners ranging from fund of funds managers to C-level executives from the largest financial institutions. The agenda, prepared and presented by Financial Research Associates LLC, spans operational and infrastructure challenges, risk management and transparency concerns, emerging trends and investor growth opportunities, and guidance for regulatory, legal, and compliance issues.
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