SAN FRANCISCO – April 4, 2012– Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Advent® is continuing to deliver solutions in the cloud, build integrated workflows, and combine software, data, and services to help move clients’ businesses forward. With Syncova Essentials, a new margin and financing reporting solution for hedge funds that is now available, firms can leverage cloud technology for their businesses in a fast and easy way. Advent® Syncova Essentials is available as a service and offers hedge funds automated reporting of margin, financing and stock loan information across multiple prime broker counterparties, providing improved transparency on terms and fees with reduced IT responsibility and lower total cost of ownership.
The addition of Syncova Essentials to the Advent® Syncova range of margin and financing tools, now enables funds of all sizes to confidently manage the increasingly complex margin and financing terms provided by their multiple counterparties. With automated cross-fund reporting, funds can achieve transparency across all portfolio charges and counterparty agreements, thereby reducing the risk of overcharging, ensuring accurate attribution of margin and financing charges, and reducing operational risk.
“Cutting costs, controlling risk and improving management of client and counterparty relationships are issues that have become increasingly important for hedge funds in the post-credit crunch world. For smaller funds with limited operational resources, this issue presents a particular challenge. Advent® Syncova Essentials allows funds to benefit from improved analysis, monitoring, and management reporting, to achieve independent validation of prime broker fees and equips firms to respond to investor demands for better controls and reporting. Because we are able to offer the solution as a service, we can deliver the benefits of transparency and control to hedge funds at a low, total cost of ownership,” said Vice President of Product Strategy, Advent Software, Liam Huxley.
Advent® Syncova Essentials is powered by the SmartXchange data hub and provides automated access to counterparty margin and finance files, enabling the solution to provide funds with a range of daily reports that include:
About Advent® Syncova Essentials:
Advent® Syncova Essentials, powered by Advent’s SmartXchange data hub, enables firms of all sizes and strategies to improve the management of their counterparty margin and financing requirements and costs through a comprehensive range of reports. Advent® Syncova Essentials is the only product available that offers hedge funds a single solution as a service for cross-fund reporting with minimal set-up, and reduces the need for additional operational resources. For more information on Advent® Syncova Essentials visit: http://www.advent.com/solutions/by-product/syncova-essentials.
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 and Advent® Syncova Essentials are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Any forward-looking statements included in this press release involve assumptions, risks and uncertainties that could cause actual results to differ materially from our expectations. These assumptions, risks and uncertainties include continued sales of existing products, the successful development, timing, anticipated features, functionality and market acceptance of new products and enhancements, 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 2011 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 for Advent Software, Inc.