San Francisco, October 24, 2005 – Advent Software, Inc. (NASDAQ: ADVS) announces the newest version of its market leading partnership accounting software, Advent Partner®. Advent Partner® was designed to help investment managers address the complexity of partnership accounting by automating the allocation of gains for economic and tax purposes, and by increasing the accuracy and timeliness of reporting.
The latest version of Advent Partner® meets advanced requirements for complex hedge funds and fund administrators through greater system flexibility, enhanced workflow and better integration. Significant enhancements to Advent Partner® include:
Advent Partner® now also offers a premium module, sold separately, which includes support for complex partnership structures such as master feeders, consolidated reporting across partnerships and an open data import facility. An additional option is an automated interface to third-party software for electronic tax filing and state Schedule K1 production.
Advent Partner® is part of the Advent Global Hedge Fund solution that combines portfolio or fund accounting, trading, and partnership accounting in a single integrated solution. This integration allows for a single point of data capture, ensures more efficient operations and minimizes errors. Information is automatically updated throughout the system with each transaction, making accurate, reliable, real-time data readily available for decision making and investment reporting.
“Advent Partner® 5.0 is a tremendous step forward, both technologically and functionally. We believe the significant scope of enhancements to Advent Partner® 5.0 will enable our clients to master the most sophisticated of their partnership accounting requirements,” said Peter Hess, senior vice president and general manager of Advent’s Global Accounts business. “With its seamless integration within Advent’s Global Hedge Fund Solution, Advent Partner® 5.0 considerably strengthens Advent’s offering to the hedge fund marketplace.”
Advent Software, Inc., a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 50 countries using Advent technology manage investments totaling more than US $8 trillion. Advent's quality software, data and services enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.
FORWARD LOOKING STATEMENTS
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 market acceptance of new products, the impact of initiatives by competitors, and other risks detailed in Advent’s filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, as amended, copies of which may be obtained by contacting Advent Software at 415-645-1787, or by visiting Advent’s Investor Relations website at www.advent.com.
ADVENT, ADVENT PARTNER and GENEVA are registered trademarks of Advent Software, Inc. or its subsidiaries. All other company names or marks mentioned herein are those of their respective owners.