FLEMING FAMILY AND PARTNERS ENGAGES CITISOFT TO ENHANCE CLIENT REPORTING

09 June 2003 - London - Citisoft, the investment management consultancy, has today announced that the London office of FF&P Asset Management has implemented a bespoke client reporting system, developed and installed by Citisoft.

FF&P Asset Management (FF&PAM), the asset management division of Fleming Family and Partners, is an independent investment house, established in August 2000. FF&PAM engaged Citisoft in September 2002 for a three-month project to enhance its client reporting process. FF&PAM had chosen not to take an off-the-shelf package so that it could design client reports that were FF&PAM-unique.

FF&PAM provided Citisoft with copies of existing reports and desired enhancements. Citisoft provided advice on best practice and suggestions on how to achieve FF&PAM's desired output. Citisoft then developed a system that could produce client reports according to those standards. The system went live in time for 2002 end of year reporting.

The new reports contain much greater client-specific detail with investment manager commentary, performance and market reviews; have a user-friendlier look and feel, and include all required regulatory information.

Citisoft also helped to automate the reconciliation of information received from the administration system to ensure that it is complete and correct. By eliminating manual inputting, the new system has reduced the risk of error in position keeping.

Karen Stanley, Head of Fund Administration, FF&PAM comments:

"This project is part of an ongoing process to enhance client reporting at FF&PAM. The system Citisoft created has helped to automate our reconciliation and report production very effectively - although with the greatly increased depth of detail in reports our workload has increased. It is intended that the improved reports will be more transparent for clients.

"We had put a lot of thought into the style and design of the product and were keen to get the project completed quickly. Citisoft delivered for us in a very short period of time and I could not fault their technical expertise. They felt like part of FF&PAM's team, which was really important to us. We now have a good product and expect to work with Citisoft in the future on enhancements to simplify report production still further."

Peter Bambrough, Project Manager, Citisoft adds:

"Citisoft worked hand-in-hand with FF&PAM to create a client reporting environment that met their carefully drawn-up requirements and FF&PAM's budgetary and timescale targets. The production of such detailed client reports would not have been possible without the automation that the new system provides, as the workload involved would have been prohibitive. The new reports will give FF&PAM's clients a much clearer picture of how their investments are being managed."

Press Release Contact:
Emma Thorpe
Tel: +44 (0)20 7936 9058

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