ATHENS – May 30, 2003 - Advent Software, Inc., leading provider of enterprise investment management solutions, announces that Terra Partners, Ltd., a New York money manager with its back office in Prague, has chosen Advent’s portfolio management & accounting software solution. Terra Partners Ltd. is the investment manager of Central European Privatization Fund, L.P., Worldwide Opportunity Fund (Cayman) Ltd. and managed accounts. Both hedge funds and the managed accounts invest in emerging markets. It is expected that Terra will manage $30 – 50 million before the end of 2004.
With over twelve years of fund management experience, Howard I. Golden had significant experience with portfolio management solutions. He had also worked with the Advent solution in the past in the U.S. Golden explains: “The Advent solution is the right choice for Terra. We evaluated eight different software solutions, all major brands from the U.S. and Great Britain. Advent came out on top.”
Flexibility, straight forward
For Terra Partners, the solution’s flexibility to meet requirements for reporting and workflow was imperative. “With not only flexibility, but also a straightforward and short implementation, the final decision maker was the competitive price Advent proposed in comparison to the competition.”, continues Golden.
With Advent's solution implemented, Golden is confident that they have laid a solid foundation on which they can grow indefinitely. He says: ”We know we will be able to produce accurate and “on time” information to support our investment decisions, and provide quick responses to our investors, both of which are imperative to the growth of our company.”
Serving clients and attracting new investors
“We want to serve our clients in the best possible way. Advent enables us to produce performance reports and other information that will satisfy our investors. Our clients’ satisfaction and impressive reporting of our performance are the best ways to attract new investors.” Golden concludes.
Accessing and “Adventizing” a new market
“With a future client reference in the Czech Republic, we are convinced that we are starting a trend in this emerging market for investment management solution providers. In particular, because of our solution’s notorious scalability, Advent has a lot to offer to this growing investment management market,” says Regional Director for Southern & Eastern Europe, Makis Ioannou. “As a worldwide leading provider, “Adventizing ” new and future clients in the Czech Republic and other Eastern European countries, is on Advent’s agenda, and we look forward to the challenge,” Ioannou concludes.
Advent Hellas S.A. is a subsidiary of Advent Software, Inc. serving the Greek, Southern and Eastern European markets.
Advent Software, Inc. has been providing trusted solutions to the worlds' leading asset managers since 1983. Firms in 55 countries use Advent technology to manage investments totalling more than US $8 trillion. Advent's quality software, data, services and tools enable managers to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent's common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software, Inc. is located at 301 Brannan Street, San Francisco, CA 94107, telephone +1 415 543 7696, www.advent.com. Advent Software, Inc. is a registered trademark of Advent Software. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.
Anne Line Lande, Marketing Manager