Vestmark continues to gain market share in the managed account solutions market with over $20 billion in assets under management on its platform

Customer growth, expanded connectivity to sponsor systems, and increased functionality positions Vestmark as the leading next generation platform for efficient and scalable support of managed account products

Wakefield, MA - October 18, 2006 - Vestmark today announced increased momentum in the fast-growing managed accounts market, highlighted by strong customer growth, an expanded connectivity offering, and increased functionality. Assets under management (AUM) on the Vestmark Managed Accounts Platform (VMAP) stand at over $20 billion representing over 60,000 unique accounts. This growth has been driven by the product innovation, compliance support and operational efficiencies VMAP provides to Vestmark customers and partners.

"Until recently, the managed accounts industry was served by archaic solutions that are prone to errors, require extensive manual operations, offer little to support compliance mandates, and limit the financial products available," said David Blundin, CEO of Vestmark. "VMAP is a modern, web-based technology platform providing complete functionality and connectivity for investment managers, overlay managers, plan sponsors, and operations outsourcing service providers. VMAP was designed from inception to support the scalability, efficiency, and product flexibility requirements of the managed accounts industry. Operations outsourcing service providers using the Vestmark platform are able to offer a higher degree of service and operational efficiency to investment managers, overlay managers, and plan sponsors."

The Money Management Institute (MMI), the national organization for the managed account solutions industry, announced on August 25, 2006 that assets under management in separately managed accounts increased $37.4 billion during the second quarter of 2006. Total assets increased 5.8% during 2Q06 reaching $773.8 billion, compared with a 5.1% increase during 2Q05.

The number of industry accounts now stands at an estimated 2.63 million, up from 2.27 million, increasing 15% since 1Q06 and 26% in the past year.

"The industry continues to demand more efficient and scalable platforms in addition to higher levels of service which Vestmark has been providing to leading firms in the industry. Vestmark is financially strong, with no venture-backed funding, and continues to grow rapidly," said John Lunny, COO of Vestmark. "Vestmark attracts top talent thanks to its commitment to customer success, an experienced management team, innovative solutions, and a great culture."

Vestmark was voted "Best Places to Work" by the Boston Business Journal in June 2006. The honor recognizes the company's achievements in creating a positive work environment and culture that drives highly engaged employees and outstanding business results while giving employees the ability to achieve a work-life balance.

About Vestmark
News Releases
Vestmark is a technology platform provider for investment managers, overlay managers, plan sponsors, and operations outsourcing service providers in the managed accounts industry. Vestmark's solution enables greater product innovation, compliance, and increased operational efficiency. The Vestmark Managed Accounts Platform (VMAP) is a modern, web-based technology platform providing complete functionality and connectivity for investment managers, overlay managers, plan sponsors, and operations outsourcing service providers. VMAP was designed from inception to support the scalability, efficiency, and product flexibility requirements of the managed accounts industry. Vestmark is headquartered in metropolitan Boston, Massachusetts. For more information about Vestmark's managed account solutions, please call 781-224-3640, email info@vestmark.com, or visit www.vestmark.com.

back