SAN FRANCISCO â July 20, 2006 â Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and services to the investment management industry, announced today continued sales penetration and momentum in the second quarter, both in the U.S and Europe.
âWith 18 clients choosing Advent Portfolio ExchangeÂ® and 11 clients choosing GenevaÂ®, Advent is clearly answering a growing need in the investment management industry, where reliable, scalable solutions are vital to the continued growth of buy-side firms," said Stephanie DiMarco, Chief Executive Officer and founder of Advent. âOur expanding client base for these solutions, which reflects both new customers and clients upgrading from the AxysÂ® platform, represents the mission-critical nature of Adventâs solutions, and we are proud to be their partner of choice.â
Advent signed the 29 agreements with a wide range of investment management firms that represented hedge funds, prime brokers, fund administrators, asset managers and investment advisors. The list includes:
--- Aronson + Johnson + Ortiz, an institutional investment manager with over $25 billion in assets under management
--- Bedrock Group, an independent asset manager based in Geneva, Switzerland
--- Eastbourne Capital Management, a long/short U.S. equity hedge fund with $3.3 billion under management
--- The Fiduciary Group, a registered investment advisor that provides comprehensive wealth management services
--- Halcyon Asset Management LLC, a New York-based multi-strategy manager with over $4 billion under management
--- Harvest Management, LLC is a multi-strategy hedge fund based in New York
--- Jefferies & Company, Inc., a New York-based global investment bank and institutional securities firm with a growing Prime Brokerage business
Adventâs 4,500 customers, which include 15 of the largest global hedge funds, eight of the top ten global prime brokers, eight of the top ten global fund administrators, and 15 of the 20 fastest growing independent advisors, rely on Advent every day to manage over $12 trillion in total assets.
"These wins, part of the 89 total that we recorded in the second quarter, highlight the fact that Adventâs product offerings continue to perform with a proven reliability that is highly valued by prospects and customers alike,â continued DiMarco. âDriving our market momentum is Adventâs long history of delivering innovative solutions that leverage our deep industry expertise and are supported by world-class customer service, which gives us great confidence about our continued market leadership.â