SAN FRANCISCO and LONDON – November 15, 2011 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, continues to gain momentum within the UK Hedge Funds market. In the space of six months, Advent has added several strategic, multi-billion dollar London-based funds to its client roster, been recognized by the industry for outstanding technology and leadership and has continued to grow and invest in technology and localresources to meet the needs of UK Hedge Funds.
Increasingly, new clients cite Advent’s expansive roadmap as the reason for migration to the Advent platform. Advent’s solution for hedge funds and alternative investment managers, Geneva®, covers the full spectrum of a hedge fund’s business, offering front office decision support and portfolio management, middle office automation through trade capture and reconciliation, and full portfolio, fund, and investor accounting and reporting. Advent has consistently invested 18-20% of revenues in research and development, and in recent years has focused particularly on meeting the needs of UK hedge funds, delivering a solution that will grow with them and adapt as the market creates and deals in new instruments.
By leveraging Advent’s industry-leading solutions, hedge funds can become increasingly attractive to institutional investors and grow their AUM, benefiting from unparalleled transparency and granularity of reporting, including the automated tracking of financing details and cash flows on CFDs and swaps.
In March of 2011, the company acquired London-based Syncova, enabling Advent to integrate margin optimization into its existingsolutions and growing its UK team by 17 staff. Since then, ten new consultants have been certified on Geneva®, bringing to over 35 the number of staff andthird-party consultants working for Advent’s hedge funds team in Europe, the Middle East and Africa. This trend of adding employees and third party consultants is set to continue, as Advent looks to move to a larger London office by early 2012.
Advent’s focus and investments in the UK hedge funds space have not only been recognized by its new clients, but also by the industry at large. Advent was recognized as ‘The Leading Provider of Fund Accounting and General Ledger Systems’ in the 2011 Hedge Fund Journal Awards, was awarded ‘Best Fund Accounting and Reporting Systems’ for 2011 by HFM Week and was named ‘Best Portfolio Management System Provider’ in the 2011 Waters Technology awards. Advent’s Founder and CEO Stephanie DiMarco, was recognized as one of the 50 Leading Women in Hedge Funds based on a survey conducted by Hedge Fund Journal and Ernst & Young.
“Working with our clients to understand their operational needs, business objectives and how we can best serve them is fundamental to Advent’s product and service development process. In the UK, we’ve invested considerable time and effort to gain insight how UK hedge funds operate and their unique needs,” said Chris Cattermole, Global Accounts Sales Manager at Advent Software,“Based on feedback from UK hedge fund clients, we’ve invested in growing our services team and tailoring consultants’ skill-sets and have added a number of product enhancements specifically designed for the UK market. We remain deeply committed to working with our clients so that we can continue to provide value as their needs evolve and their businesses grow.”
Geneva®, a global portfolio management, reporting and investor accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, primebrokers, and fund of funds that require a high level of operational efficiency and access to real-time P&L, performance, and exposure reporting. Geneva® offers comprehensive instrument coverage, a fully integrated financial general ledger, and industry-standard integration tools to enable firms to manage complex investment vehicles, multiple investment strategies, and unlimited fund structures. For more information on Geneva® visit https://secure.advent.com/info/pr_geneva
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 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.
Any forward-looking statements included in thispress release, including the momentum of the business and increases in personnel and third party consultants, involve risks and uncertainties thatcould cause actual results to differ materially from our expectations. These risks and uncertainties include market conditions and developments, continued sales of existing products, the successful development, timing, anticipatedfeatures, 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 2010 annual report on Form 10-K, copies of which may be obtained bycontacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com.
Advent, the Advent logo, Advent Software and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
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