The latest version of Advent PartnerÂ® meets advanced requirements for complex hedge funds and fund administrators through greater system flexibility, enhanced workflow and better integration. Significant enhancements to Advent PartnerÂ® include:
- Historical tax adjustments without reopening books
- Investor class groups
- Weighted average capital for tax reclassification
- An open asset-based fee calculator
- Investor report distribution via Outlook
- Automated, two-way integration with GenevaÂ®, Adventâs premier global investment and accounting system
Advent PartnerÂ® now also offers a premium module, sold separately, which includes support for complex partnership structures such as master feeders, consolidated reporting across partnerships and an open data import facility. An additional option is an automated interface to third-party software for electronic tax filing and state Schedule K1 production.
Advent PartnerÂ® is part of the Advent Global Hedge Fund solution that 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.
"Advent PartnerÂ® 5.0 is a tremendous step forward, both technologically and functionally. We believe the significant scope of enhancements to Advent PartnerÂ® 5.0 will enable our clients to master the most sophisticated of their partnership accounting requirements," said Peter Hess, senior vice president and general manager of Adventâs Global Accounts business. "With its seamless integration within Adventâs Global Hedge Fund Solution, Advent PartnerÂ® 5.0 considerably strengthens Adventâs offering to the hedge fund marketplace."