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Article Excerpt
-- First institutional investment manager to utilize APL-MSP functionality --
CheckFree Investment Services, a division of CheckFree Corporation , today announced that Charlotte, NC-based WEDGE Capital Management is the first institutional investment manager to license CheckFree APL(SM) MSP, CheckFree's multiple strategy portfolio functionality. CheckFree Investment Services is the leading provider of outsourced trading, portfolio management, accounting, reporting services and data to broker/dealers, investment consultants and money managers in separately managed accounts.
"Until now, retail separate account managers have relied on CheckFree APL-MSP, but there is great value in the platform for the institutional investor as well," said Alex Marasco, CheckFree Investment Services executive vice president and general manager. "WEDGE Capital Management recognizes the value APL-MSP brings to its approach of managing institutional separate accounts, by fine-tuning an array of investment decisions right down to a particular holding and tax-lot, and completely automating through technology what is often a manually-based process."
Assets flowing into separately managed accounts and interest in multiple strategy portfolios continues to climb. Financial Research Corporation reports that assets in separately managed accounts rose 29...
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