San Francisco, June 21, 2005 - Advent Software, Inc. (NASDAQ: ADVS), introduces Advent for Global Hedge Funds, a superior technology solution featuring Adventâs GenevaÂ® global accounting system.
Advent for Global Hedge Funds combines portfolio or fund accounting, trading, and partnership accounting in a single integrated solution. This integration allows for a single point of data capture, ensures more efficient operations and minimizes errors. Information is automatically updated throughout the system with each transaction, making accurate, reliable, real-time data readily available for decision making and investment reporting.
Adventâs Global Hedge fund Solution includes Adventâs newly developed Workflow Manager, a powerful integration platform that allows firms to easily and efficiently manage the workflows and data exchange between GenevaÂ® and other applications. The solution also features full integration with Adventâs MoxyÂ® for order management and Advent PartnerÂ® for partnership accounting.
Advent for Global Hedge Funds gives managers of large, complex funds the speed, flexibility and functionality they need to gain a strategic advantage by delivering:
Â· Seamless integration of the portfolio accounting, trading and partnership accounting functions;
Â· Unmatched throughput for high trading volume across multiple instruments and currencies;
Â· Fast, flexible, accurate reporting capabilities and real-time information access;
Â· Rapid, global error correction and instant updating throughout the system; and
Â· Scalability to grow their business through new product offerings, and increased asset and trade volumes, without adding headcount.
At the core of the solution is GenevaÂ®, Adventâs powerful real-time portfolio accounting engine. GenevaÂ® delivers the industryâs only "main memory" database system, offering more accurate and flexible reporting, and eliminating batch processing and time-consuming error corrections. GenevaÂ® also unifies the general ledger and portfolio sub-ledgers, for real-time reporting and seamless, automated reconciliation.
"Through world-class technology and timely, successful implementations, Advent has proven itself as the market leader in the hedge fund industry, delivering unprecedented control to help firms build and sustain a strategic advantage in the fast-moving global market," said Peter Hess, Adventâs senior vice president and general manager for Global Accounts.
Advent is the leading provider of technology solutions for hedge funds, with more than 500 alternative investment clients, including 15 of the 25 largest global hedge funds, seven of the top 10 global prime brokers, and six of the top 10 global fund administrators.