Administration March 9, 2004

PFPC Acquiring ADVISORport

September 15, 2003 (PLANSPONSOR.com) - PFPC Worldwide Inc. is set to acquire all outstanding shares of Persimmon Research Partners, Inc, also known as ADVISORport.
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With the acquisition, ADVISORport will become a part of PFPC’s managed account services businessunit, which provides technology and managed account services to enterprisesponsors, registered investment advisors and money managers.   PFPC managed account services will retain the ADVISORport brand name for its managed account technology platform, according to a news release.

The expanded PFPC managed account services unit will now offer outsourcingsolutions to financial institutions, including:

  • ADVISORport’s online managedaccount and unified managed accounts (UMA) model platforms
  • PFPC’s Web-basedmutual fund wrap services
  • money manager back-office outsourcing.

The transition is expected to be seamless given that that PFPC and ADVISORport’s systems have been fully integrated since early2003 (See  ADVISORport, PFPC Providing Fund Model Tool ).

Subject to regulatory approvals, the transaction is anticipated to close in mid-October.  Terms of theagreement were not disclosed.

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