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PRESS RELEASE : U.S. and World News :
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Convexity Capital Management Leverages CorrectNet's Expertise
Mon, 22 Jan 2007, 14:13:00 EDT Edited by Christopher Simmons    infiPOINT(TM) Platform Delivered for Investor Reporting NEW YORK, N.Y. - Jan. 22 (SEND2PRESS NEWSWIRE) -- CorrectNet, Inc. today announced that Convexity Capital Management LP has completed the launch of a new investor reporting application powered by the industry leading infiPOINT(TM) platform. The application enables Convexity to deliver account statements, reports and fund level documents to investors in Convexity-managed funds.  Founded by former Harvard Management Company CEO Jack Meyer, Convexity began operations in February 2006 with over $6 billion under management. Convexity knew it did not want to build, deploy and manage such an investor reporting application internally and initiated a search for a vendor who could deliver a world-class web-based reporting platform in a short timeframe. "CorrectNet is a leader in the Investor Reporting space, having a significant market share of the Hedge Fund community," says Alan Becker, Partner and Chief Information Officer at Convexity. "Given our aggressive timeline, CorrectNet's proven capabilities and its ability to deliver quickly made the choice easy." CorrectNet was able to design, build, test, and deploy the application within 120 days from the initial project kickoff meeting. The project was delivered on time and on budget, using CorrectNet's proven project management methodology and component based architecture. "The project management methodology that CorrectNet uses is among the best I've seen," Becker says. "Its collaboration portal provided full transparency into the project, giving my team assurance that the work was on track throughout the entire process." "We are delighted to add Convexity to our extensive list of Hedge Fund clients," remarked Jim Rich, SVP of Sales and Marketing for CorrectNet. "We bring a mature, stable platform to the Hedge Fund industry which allows us to meet the most aggressive client timelines; being responsive to client needs is what's expected of a service provider. We were able to leverage our infiPOINT platform to configure Convexity's application in a fraction of the time when compared to conventional development." The modular design of the CorrectNet platform ensures that future implementation of additional functionality will be done as efficiently as the initial installation. For more information about CorrectNet services, call 631-574-6144 or visit www.CorrectNet.com. About CorrectNet NY-based CorrectNet is a market leader in implementing and supporting enterprise data delivery applications for many of the world's largest financial institutions. CorrectNet serves more than 800 firms through relationships with leading fund administrators, prime brokers, and service providers. Clients include seven of the top 12 hedge fund administrators-encompassing more than 40 percent of the world's hedge funds-and the company serves the information needs of more than 300,000 investors. CorrectNet's infiPOINT(TM) data delivery platform complements internal data warehouse initiatives by enabling multi-channel distribution of information to corporate executives, external clients and counterparties. Delivered as a managed service, the platform consolidates complex financial data from virtually any data source including data warehouses, BI tools, local application data, spreadsheets, PDFs and Word documents, to enable the deployment of client branded data delivery applications in a fraction of the time associated with conventional development. www.CorrectNet.com. Text provided by an agency, Client by Design, on behalf of the news source.
NEWS SOURCE: CorrectNet, Inc.
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