Source: Advent Software
Advent Software, Inc. (Nasdaq: ADVS), the leading provider of software and services to the investment management industry, today announced that it added 53 alternative asset management firms to its industry-leading portfolio of clients in 2005.
Advent remains the premier technology partner for the world's leading alternative asset management firms, and powers more than 450 hedge fund managers, fund administrators and prime brokers. Alternative investment management firms, including hedge funds, increasingly rely on Advent's extensive solution suite, which includes Geneva, Moxy, Advent Portfolio Exchange, Axys, Advent Partner and Advent Custodial Data.
Advent's Global Hedge Fund Solution, powered by Geneva, provides a fully integrated suite for trading, investment and partnership accounting that enables clients to minimize risk, streamline their operations and reduce costs while managing the most complex investments. Advent also recently enhanced its Moxy trade order management system offering to provide hedge funds with the ability to track their position and fund performance in real time. Alternative investment firms value the new Profit and Loss tool in Moxy, which addresses a critical market need. As a result, Advent's reputation for providing superior service, reliability and value continues to extend across the industry. In 2005, Advent added 53 alternative investment firms, 15 of which implemented Geneva, and 38 of which implemented Axys or Advent Portfolio Exchange. Advent also added 17 hedge funds to the Moxy client community.
"What is really satisfying for us is the acknowledgement by the market that our development focus on instrument coverage, integration, and core accounting is in alignment with the industry's most critical needs," said Robert O'Boyle, Vice President Product Marketing for Global Accounts. "It's amazing to see how many institutional asset managers have recently formed hedge fund groups and how well this market understands the importance of a system that enables their business growth by meeting the demands of both the front and back offices."
Overall, 15 of the largest global hedge funds, eight of the top ten global prime brokers, and eight of the top ten global fund administrators depend on Advent. During 2005, Advent continued its commitment to providing clients with exceptional support and ease of use. Geneva maintained its 100% successful implementation rate for its global hedge fund solution, rapidly implementing some firms in as few as 45 days.
"Our organizational growth has enabled us to keep pace with the demand for our product, by building a consulting practice that has radically reduced implementation time," said O'Boyle. "We have always put implementation success first, and now we are able to have the same focus and the same level of client success in a fraction of the time."