SAN FRANCISCO – June 9, 2009 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that it has signed more than 400 client contracts for the use of Advent Portfolio Exchange® (APX) through on-site installation or Advent's outsourced offerings, since the product was launched in late 2005. APX is Advent’s award-winning 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.
Advent clients can choose from a wide range of flexible deployment options for APX, including on-site installation, managed hosting or a fully outsourced environment with reporting and reconciliation services. The 400 APX clients are comprised of a wide range of investment management firms in 30 countries, including asset managers, family offices, independent advisors, trusts, broker dealers and hedge funds, managing assets from $25 million to over $75 billion.
"In today's environment, end-to-end portfolio management systems are a strategic imperative for the investment management community,” notes Celent Analyst Dr. Isabel Schuerte. “Guided by the need to enhance operational efficiency, and reduce costs and operational risks, many buy side CTOs and COOs are revisiting their technology infrastructure in a bid to integrate their often heterogeneous systems environment in the front and back office."
“We are extremely pleased with the continued momentum behind APX,” said Michele Holton, Director of Product Marketing at Advent. “By leveraging APX to support and streamline their operations, firms benefit from increased operational efficiencies, enhanced client service and improved compliance. Having more than 400 APX clients is a testament to Advent’s leadership position in the market and demonstrates the mission-critical nature of our solutions, which address the unique and evolving business requirements of today’s investment management firms.”
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Today firms in 60 countries rely 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 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/about/resources/demos/pr. For more information on APX visit https://secure.advent.com/info/pr_apx.
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 continued sales of existing products, market acceptance of new products, the impact of initiatives by competitors, changes in market 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 2008 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.
The Advent logo, Advent Software 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.
Advent Software, Inc.