Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Praktikertjänst AB:s Pensionsstiftelse, the pension fund of the largest private health and dental care firm in Sweden, has chosen Advent's award winning asset management solution, Geneva®, as the technology platform to support its investment operations and will be using Geneva® via a trusted managed-hosting provider.
For over 50 years Praktikertjänst AB has been owned and run by doctors, dentists, dental technicians and hygienists, physiotherapists, nurses, midwives, chiropractors, psychologists, and therapists who manage clinics across Sweden. Praktikertjänst AB:s Pensionsstiftelse and the rest of the group currently has approximately $2 billion in assets under management.
“Our legacy system had reached the point where it could no longer meet our growing needs related to compliance, reporting, supporting flexible portfolio structures, instrument coverage, and more sophisticated strategies. We needed to improve efficiencies across our investment operations and integrate with external systems and counterparties,” said Fredrik Ahlström, CEO of Praktikertjänst AB:s Pensionsstiftelse. “We were also looking to move to a hosted solution to free up resources and focus more on our core priority of managing our funds. Advent’s Geneva® met all of these requirements and together with their strong local presence in Sweden, made them the obvious choice over other vendors we evaluated.”
“We are delighted that the Praktikertjänst Group has chosen Advent to support its growth strategy and we look forward to working with them over the long-term to help the organization achieve its business objectives,” said Hakan Valberg, President of Advent Software EMEA. “We are seeing increased interest in our solutions, especially in Scandinavia, as firms look to meet local regulatory requirements, streamline their internal operations, and better focus on managing clients’ assets. We remain committed to providing highly flexible, customizable, easy-to-integrate solutions, as well as a superior level of local support for clients in the EMEA region.”
In a market that calls for quick, informed decisions, Advent’s Geneva® empowers fund managers with real-time performance, P&L, position, and exposure information. With comprehensive instrument coverage – from global equities and fixed income to derivatives and bank debt – Geneva® supports even the most complex global strategies. It’s a leading portfolio management solution for hedge funds, asset managers, hedge fund administrators and prime brokers, as well as private equity and funds of funds.