Advent releases asset management package

Advent releases asset management package

Advent Software has launched Advent for Asset Managers, a package of software, data and services designed and developed for the asset management marketplace.

Advent says the package will help firms control operating risk and maintain a high level of client service.

The system provides firms with portfolio management, accounting and performance measurement. Trading and order management is provided by Advent's Moxy system which also delivers order allocation, integration with third-party networks -including the SunGard Transaction Network and Thomson Financial's TradeRoute - and real-time profit and loss and reporting.

The product also features integrated multi-currency and fixed income capabilities and is linked to the DTCC for settlement processing. LatentZero's Senitel system is also integrated with the Moxy platform for pre and post-trade compliance.

The solution also includes Advent's custodial data service, which provides consolidated custodial account data from multiple sources via a single interface. Advent interfaces with more than 300 custodians to provide clients with one manageable download, eliminating manual input of custodial data.

Mike Gamson, Advent's business manager for the asset management marketplace, says two of the most common contributors to operating risk are trading on inaccurate or incomplete information and the human error inherent in manual processing.

"By delivering a solution whose modules are tightly integrated with each other and with the external systems critical to our clients' businesses, we are able to deliver a solution to asset managers that dramatically reduces their operating risk," says Gamson.

Separately, Wasatch Advisors and Oppenheimer Capital, a subsidiary of Allianz Dresdner Asset Management of America, has gone live with Advent's compliance management solution, which features LatentZero's Sentinel product and provides trade monitoring and reporting, centralisation of compliance and oversight management. The solution is also a feature component of Advent for Asset Managers.

The compliance management solution is powered by LatentZero's Sentinel, which is integrated with Advent's Moxy trade order management system. Advent says the combined package provides institutional money managers and fund administrators with a set of tools for risk prevention, trade monitoring and oversight.

Dwight Ricks, chief information officer, Wasatch Advisors, says: "We were very impressed with the level of sector-level rule checking we can do with LatentZero and with its tight integration with Moxy."

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