Advent Software and eVestment Alliance Announce Strategic Relationship
Integration Streamlines Workflow And Reporting For Investment Management Firms
SAN FRANCISCO – December 13, 2011 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced its strategic relationship with eVestment Alliance, a global provider of institutional investment data intelligence, analytic solutions and industry marketing databases.
Advent and eVestment Alliance will offer integration between Advent’s portfolio accounting and management solutions, Advent Portfolio Exchange ® (APX) and Axys®, and eVestment Alliance’s Exchange product. As a result, investment managers will be able to reduce time and effort associated with populating consultant and third-party databases with quarter-end data.
“Advent saw an opportunity to join forces with eVestment Alliance to help our clients streamline the process of updating third-party databases,” said George McLaughlin, Senior Director at Advent Software. “In doing so, we’re helping our clients to be more efficient and to market themselves to institutional investment consultants and ultimately institutional investors.”
Many investment management firms using Advent’s software also use investment consultant and third-party databases, like eVestment’s Global Database, as a reporting and business development tool. In order to keep the databases updated with relevant product information, investment managers migrate large quantities of quarter-end data from Advent portfolio accounting systems to eVestment Alliance’s Exchange product. As a result of the alliance, it is far easier for asset managers to provide information to the Exchange system. This will significantly decrease the time and effort required to aggregate the data from various sources and ensure better data integrity by mitigating the risk for errors from manual input.
“We are continuously seeking to improve the client experience,“ said Matt Crisp, Principal and Founder of eVestment. “This relationship has been formed in direct response to client requests to simplify the data updating process and with Advent’s superior software, we’re certain it will present tremendous advantages for clients of both organizations.”
The Advent and eVestment data integration solution is expected to be available in early 2012.
Axys® is Advent’s turnkey portfolio accounting and reporting solution. The accounting, performance, automated reconciliation, and reporting tools in Axys® enable firms to easily manage an expansive number of accounts and a range of investment instruments. The solution is used by thousands of asset management clients around the globe. For more information on Axys® visit http://www.advent.com/solutions/by-product/axys.
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX) is an end-to-end portfolio management solution that integrates the front-office functions of prospecting, marketing, and customer relationship management with the back-office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment. For more information on APX visit https://secure.advent.com/info/pr_apx.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 60 countries count on Advent technology to run their mission-critical operations. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling operational risks and costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/solutions.
Advent, the Advent logo, Advent Software, Axys and Advent Portfolio Exchange are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
About eVestment Alliance (www.evestment.com)
eVestment is a leading global provider of institutional investment data intelligence and analytic solutions. eVestment delivers extensive separate account, hedge fund and commingled fund data through robust, user-friendly products, with an unparalleled commitment to client service. Its diverse clients include leading investment consultants, asset managers, plan sponsors and others among the world’s foremost financial organizations. The company was founded in 2000 and is headquartered in Atlanta, Georgia with offices in New York, London, Sydney, Hong Kong and regional sales offices in Boston, Seattle, Chicago, Raleigh and Toronto.
Any forward-looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include the successful development, timing, anticipated features, functionality and market acceptance of new products and enhancements, market conditions and developments, expected benefits of new functions, continued sales of existing products, the impact of initiatives by competitors, continued uncertainties and fluctuations in the financial markets and economic conditions and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2010 annual report on Form 10-K, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com.
Horn Group for Advent Software, Inc.