San Francisco, June 27, 2000 - Advent Software, Inc. (Nasdaq: ADVS) in conjunction with the Financial Services Industry Group of the New York office of American Express¸ Tax and Business Services (TBS) Inc. has released a guide designed for professional asset managers who are involved with investment partnerships. Understanding Partnership Accounting, available through Advent Software, provides essential information to help readers understand the accounting, tax and legal implications of investment partnerships.
Understanding Partnership Accounting describes how investment partnerships allocate the results of their investments to the partners, including tax reallocations for performance fees, and other tax and reporting issues.
"Limited investment partnerships represent one of the fastest growing segments of the investment management industry. The concept of pooling capital creates an attractive investment product to investor and manager alike," said Aaron Goldberg, Managing Director in the Financial Services Industry Group of the New York Office of TBS. "We felt that the information in this book gives the reader a better understanding of the issues that need to be addressed when starting or running an investment partnership."
"We wrote this book to help businesses take advantage of the diversification opportunities available through limited partnerships," said Rick Eng, product manager of Advent Partner¸, at Advent Software. "Also, we hope to give business executives a head start on the complex issues they will encounter in the process of starting and managing a partnership, and help them understand how technology can streamline operations," he continued.
Advent Partner, the emerging standard in partnership accounting software, is a component of Advent Office™, Advent’s enterprise investment management solution suite. Advent Partner’s unique integration with Advent Office allows users to combine partnership accounting with portfolio management to minimize manual data entry and errors.
The American Express Company is a leader in charge and credit cards, Traveler’s Cheques, travel, financial planning, investment products, insurance, accounting and international banking.
The New York office of TBS provides tax and business advisory services to individuals and partnerships with sophisticated, high-level needs and to small and medium-sized businesses and corporations as well as not-for-profit entities.
The Financial Services Industry Group of the New York office of TBS is a world leader in delivering tax and advisory services to investment partnerships, hedge funds, and broker dealers throughout the U.S. and internationally.
Advent Software, Inc. is the leading provider of Enterprise Investment Management solutions. The company provides a suite of complimentary products for the front, middle and back offices of investment management organizations. The company’s common stock is traded on the NASDAQ National Market under the symbol ADVS.
Advent Software, Inc.
301 Brannan Street
San Francisco CA 94107