Advent Software (NasdaqGS:ADVS), the leading provider of software and solutions for the global investment management industry, today announced that Fulcrum Group has implemented Geneva, its award-winning portfolio management and fund accounting solution.
Established in Bermuda in 1995, Fulcrum is a global hedge fund administrator with offices in New York, London, Canada, Ireland, the Cayman Islands and India.
As part of its overall full service offering and expansion strategy, Fulcrum migrated its accounting platform to Geneva 7.0, the leading portfolio management system designed to support complex global investment strategies. With comprehensive instrument coverage, multi-currency capabilities and profit and loss (P&L) reporting at the security level, Geneva enables Fulcrum to stay reconciled on a daily basis and to offer a wider range of services to its clients.
"Fulcrum's strategic initiative to provide full service administration was the primary driver behind our selection of Geneva for our accounting platform," said Chris Mulhern, Chief Operating Officer, Fulcrum Group. "As we grow and extend our business, Geneva's leadership position will benefit not only our overall service offering, but our business development and marketing. There are key components that will help us achieve our goal of being the gold standard administrator - our global presence, our operating model, our approach to staffing - and definitely our use of Geneva."
Continued Mulhern, "Historically, Fulcrum has been known for administering many funds with complex instruments, products and strategies, and has built a reputation for this capability. The ability of Geneva to stay abreast and to handle new instruments, new strategies, and new reporting requirements made it extremely attractive."
"We are delighted to welcome Fulcrum as a new client. They join a global community of over 130 investment management firms who are committed to Geneva for operational efficiency," said Chris Momsen, Vice President, Sales and Marketing and Co-Head of Global Accounts for Advent. "Not only has Geneva streamlined Fulcrum's existing processes, but it allows them to more effectively compete."