CorrectNet, a provider of information delivery and reporting applications to many large investment management firms, and ProTrak International, a provider of customer relations software fo

CorrectNet, a provider of information delivery and reporting applications to many large investment management firms, and ProTrak International, a provider of customer relations software for alternative and traditional investment managers, have unveiled an integrated solution for hedge funds.

The turnkey solution provides hedge funds with streamlined, web-based information delivery that facilitates more detailed, frequent and customised information for investors, as well as prime brokers, fund administrators and other counterparties.

The offering integrates CRM: data in ProTrak with CorrectNet's web-based reporting and data aggregation services. At the front end, a hedge fund's investor relations group can use ProTrak's CRM solution to manage investor access and reporting to their CorrectNet web portal.

Changes or adjustments can be made directly from ProTrak, eliminating the need for duplicate copies of investor records and data. The companies say the integration of the two platforms gives hedge funds ultra-secure web distribution combined with improved customer relations and entitlements.

'Hedge funds are struggling to meet the demands of investors, particularly institutions, for greater transparency and more frequent and customised reporting,' says Bob Miller, chief executive of CorrectNet.

'To meet this demand in an operationally efficient way requires that the often complex relationship, entitlement and other content stored in a firm's CRM systems be integrated with core reporting and information delivery platforms.'

The firms say the depth of integration and turnkey functionality offers major cost savings and efficiency benefits to hedge fund clients. All the entitlement-based information in ProTrak's CRM solution, including performance data, investor details and manager communications, are automatically transmitted to the hedge fund's investor servicing web site provided by CorrectNet. Hedge funds will benefit, they say, from reduced time spent on administrative tasks, standardised, rapidly delivered information and improved investor servicing.

'Combining the ProTrak Advantage CRM solution for alternative asset manager with CorrectNet provides our clients with a fully integrated out-of-the-box solution to meet all of their current and future CRM and client reporting needs,' says ProTrak International president Simon Koziel.

ProTrak and CorrectNet will roll out the new solution immediately to clients and say they are looking at extending the solution's features and services as the partnership evolves.

Founded in 1997 with offices in New York City and Hauppauge in New York state, CorrectNet facilitates and manages data delivery via web reporting applications to investors, portfolio managers, operations teams and executives, serving hedge funds, funds of funds, fund administrators, prime brokers and wealth advisory firms.

New York-based ProTrak has been providing client relationship management solutions to the investment management community for more than 20 years, with a global client base that manages more than USD1trn in assets and employs more than 1,000 professionals.