InfoComp’s Composer chosen as Asteron’s exclusive registry platform after IT systems review.

SYDNEY, May 26 2005: Australian-owned software developer, InfoComp, and financial services organisation, Asteron, today announce that Asteron will double Composer’s coverage of its wealth management business following an extensive IT systems review.
 
Composer will become the exclusive superannuation, master trust and unit trust platform for Asteron’s wealth management business, replacing both internally developed systems and other third party vendor systems. Robert DeDominicis, Chief Executive Officer of InfoComp said “the expanded use of Composer followed InfoComp’s support of Asteron over many years and the launch of its highly successful WealthStar product line on Composer last year”.

“We are delighted that our longest standing Composer client, Asteron, has decided to adopt Composer as the exclusive administration software platform across their Wealth Management business. This includes all of their superannuation products, master trusts and unit trusts for Australia. We very much look forward to working with them in this strategic consolidation and expansion” he continued.

Mr Dennis Fox, Chief Executive Officer of Asteron, said, “We began our program of consolidation in 2003, to streamline the operations of our trans-Tasman business and to reduce the number of registry systems, and our evaluation clearly identified InfoComp’s Composer as being strategic to the way forward.
“Composer is the best offering overall, based upon its functionality and its track record with our superannuation and master trust products and having played a key role in the launch of WealthStar.”

InfoComp CEO, Robert DeDominicis concluded, “We have worked closely with Asteron for more than 5 years now and I would like to acknowledge and thank Asteron for its continued support. Composer is now in its sixth release and it’s backed by our commitment to Research & Development and an extensive ongoing maintenance program. This allows Asteron, and indeed all of our clients, to expand their businesses with confidence. Composer makes it easy for them to enhance their existing product lines and to launch new ones, like Asteron did last year with WeathStar.”

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About InfoComp
Established in 1988, InfoComp has evolved to become a provider of world-class software solutions to the financial services sector.  Since inception, InfoComp has achieved consistent growth and profitability and currently boasts a client list that includes some of the largest and most respected corporations in Australia.

InfoComp's software solutions, Composer (Funds Administration), Conductor (Electronic Messaging) and Unison (Registry processing) are based on open standards and incorporate products from leading technology suppliers.

About Asteron
Asteron employs 1,200 people and has more than 1 million customers across Australia and New Zealand. It has funds under management of $8.3 billion, funds under administration of $4.3 billion and another $25.2 billion in funds under supervision. Asteron is a subsidiary of Promina, a financial services conglomerate that is also parent company to AAMI, Shannons, Vero and Tyndall. Promina employs 6,000 across 210 offices and oversees a trans-Tasman customer base of more than 3 million.