Advent PartnerÂ® creates efficiencies in the complex partnership accounting process by automating its most difficult facets â the reallocation of profit for the performance incentive fee, and the allocation of realized gains and losses for tax purposes. Advent PartnerÂ® then allows managers of pooled accounts, including hedge funds, fund administrators, accounting firms and many other types of investment partnerships, to provide their investors with comprehensive capital statements and performance reports.
"Investment partnerships continue to represent one of the fastest growing segments of the investment management industry. Advent PartnerÂ® is a comprehensive solution that gives firms the ability to deliver the accuracy, efficiency and responsiveness necessary to efficiently manage an investment partnership," said Peter Hess, Senior Vice President and General Manager of Adventâs Global Accounts business.
The latest version of Advent PartnerÂ® has been enhanced with functionality that increases its allocation flexibility, including two new aggregate methods; sidepocket enhancements for reinvesting income; and locked-in performance incentive fee accruals to show the "change in" performance fee on a periodic basis. Advent PartnerÂ® 4.2 also includes usability enhancements including partnership templates for easier setup of new funds, multiple partner groupings for more flexible reporting options, and customizable user authentication. Also included is the new streamlined version of the Schedule K1 for 2004.
Advent PartnerÂ®âs easy-to-use Windows format coupled with the power of its SQL Server database architecture and design gives firms the ability to deliver the accuracy, efficiency and responsiveness necessary to efficiently manage an investment partnership. Advent PartnerÂ® integrates with both AxysÂ®, Adventâs portfolio accounting system, and GenevaÂ®, Adventâs global investment accounting solution, and can also be used as a stand-alone system.