CorrectNet Launches “Out-of-the Box” Reporting Solution For Hedge Fund and Investment Managers

New York, NY - 25 October 2006

CorrectNet, Inc., the leader in customized reporting solutions for the asset management industry, today announced the release of ASPireâ„¢ (ASP-Investor Reporting Extranet), a new product targeted specifically at solving the reporting challenges faced by the Hedge Fund and Investment Manager community.

ASPire is based upon CorrectNet’s infiPOINT™ platform which provides the underlying technology that drives reporting solutions for many of the largest financial services organizations around the globe. In fact, nearly 50% of all hedge funds leverage the infiPOINT platform to solve many of their data delivery challenges.

The ASPire product allows Hedge Fund and Investment Managers to quickly and easily create a custom branded Investor extranet to facilitate their transparency reporting requirements. This includes on-line delivery of performance estimates, investor statements, fund level documents, transactions, newsletters, commentary and other relevant information that investors demand from their Managers.
“As institutional money flows into alternative investments, hedge fund managers will be forced to re-evaluate their entire data access, distribution and web delivery strategy.” says Jeremy Hurwitz, Managing Director at InvestTech Systems. “Institutional investors require much higher levels of transparency from all of their managers.”

“Hedge fund and investment managers are starting to realize that they need to expand their web strategy” remarks Jim Rich, SVP Global Sales and Marketing. “ASPire allows them to enhance their reporting capabilities very quickly without embarking on a massive internal website redesign project.”
Delivered as an ASP service, the product provides Investment Managers with the following capabilities:

• A custom branded extranet that follows existing client-branding or provides alternatives for enhancing the site’s look/feel with Flash graphics.
• Standard content pages including About Us, Careers, Locations, etc.
• CorrectNet’s proven implementation methodology that can typically launch a customized extranet in less than 90 days.
• Full time-series storage and retrieval of investor specific information allowing clients to navigate archived information quickly and easily.
• Users can upload Excel spreadsheets to create high-end graphs of important information that are immediately available to selected investors.
• Full 24/7 monitoring of the application in a Tier 1 data center to ensure continuous access at any time by any investor—anywhere in the world.
• An upgradeable platform to facilitate additional functionality such as risk reporting, executive dashboard reporting, statement generation and workflow management.

With ASPire, Hedge Fund and Investment Managers of any size can quickly deploy a robust investor reporting extranet to meet the ever-increasing reporting demands of their clients.

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