LONDON and NEW YORK, Nov. 29, 2006 (PRIME NEWSWIRE) -- GoBook(tm), an efficient, new Web-based hedge fund performance reporting tool, is now available from GlobeOp Financial Services to enable hedge fund managers to communicate independently verified fund performance data to investors.
"The investment community is increasingly demanding more transparent and independent performance data and reporting. Both institutional and private investors are concerned that performance, risk and portfolio data are currently provided only by funds," said Hans Hufschmid, GlobeOp chairman and CEO. "Institutional investors -- insurance companies, investment banks, pension funds and family wealth offices -- are adding hedge fund investments to their portfolios. These investors require transparency and performance detail about the funds they invest in, in order to optimize their overall asset allocation.
"On behalf of our clients, GlobeOp processes a significant amount of data across a broad range of asset classes, currencies, derivatives and markets. Through GoBook, we can now make independently verified data available to fund managers as a solution to meeting investor requirements for independent performance measurement. During the pre-launch period, we provided exclusive access to several clients whose funds supported the development and testing of this robust online financial reporting technology. We received enthusiastic reviews for its flexibility and innovative ease of use."
Ed Condon, director of GlobeOp Markets, described GoBook's data range and performance reports, and noted that investor access to data remains completely at the discretion of fund managers.
"GoBook provides detailed information well beyond standard return analyses. Trade and accounting data that GlobeOp reconciles and reports to its hedge fund clients are used to generate GoBook. One of its most powerful benefits is the ability it gives fund managers to provide authorized users with high-level portfolio analysis."
Fund managers can authorize user access to three levels of GoBook data:
1. Fund return data, performance metrics, flash returns, manager
comments and publications
2. Fund level net asset value (NAV) data and manager assets under
management (AUM)
3. Fund decomposition against seven measures -- profit and loss (P&L),
cumulative P&L, net NAV and gross NAV. These measures can be
stated in absolute or relative terms and can be analyzed across
investment type, currency, industry and region.
Fund performance can be benchmarked against a range of industry indices including the CAC-40, DAX, Dow Jones, NASDAQ, Nikkei 225 and S&P 225.
"GoBook can also be used to communicate with investors faster and more efficiently. Fund managers can upload comments, flash performance data prior to verified month-end reports, monthly reports, fund newsletters and other .pdf documents," Condon added.
A window onto GoBook's reporting capabilities is available on www.globeop.com.
About GlobeOp Financial Services
GlobeOp(r) is a leading, independent financial technology specialist providing automated, integrated middle- and back-office, administration and risk reporting services to hedge funds and asset management firms -- including banks, insurance companies, pension funds and proprietary traders. Clients trading a wide range of asset classes and derivatives outsource to GlobeOp for access to seamless, reliable Web-based accounting and valuation, processing and settlement services, investor relations, shareholder records and reporting. Partnering with GlobeOp reduces technology investments and operational risks, and focuses client resources on asset generation and portfolio management. GlobeOp's innovative, robust yet flexible technology is available either as a complete solution or can be tailored to specific customer requirements. Established in 2000, GlobeOp today serves a growing base of diverse international clients with more than $110 billion in assets under management. Headquartered in London and New York, GlobeOp employs 1,500 people on three continents; offices are also located in George Town, Cayman Islands; Harrison, NY and Hartford, CT, U.S.A.; and Mumbai (Bombay), India. www.globeop.com
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995
Statements made in connection with this news release that are not historical fact, such as forward-looking statements concerning future performance and growth, involve risk and uncertainties and are subject to various factors that could cause actual results to differ materially from those set forth in the forward-looking statements. Although GlobeOp believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, such as competition, loss of clients or a reduction in business received from clients, failure to retain key management and employees, success of new services, reputational harm, disruption of crucial computer and communications systems, regulation, pending, threatened or future legal proceedings, general economic conditions and other factors, including those impacting the hedge fund industry generally, such as changes in the market environment, decreased growth rates and industry consolidation, could cause actual results to differ materially from GlobeOp's expectations. Any forward-looking statements represent the best judgment of GlobeOp as of the date of this release. GlobeOp disclaims any intent or obligation to update any forward-looking statements.
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