Advent Software Launches New Hedge Fund Solution

Advent Software Launches New Hedge Fund Solution

San Francisco, Calif., May 6, 2003 - Advent Software, Inc. (Nasdaq: ADVS), the leading provider of software to the financial services industry, today announced the launch of “Advent for Hedge Fund Managers,” a comprehensive front-to-back solution that provides hedge fund managers with the reliable decision support needed to succeed in today’s split-second investing environment.

Comprised of five modules— Fund Accounting & Reporting, Partnership Accounting, Investor Relationship Management, Trading, and Prime Broker Reconciliation — Advent for Hedge Fund Managers is an expansion of Advent’s current hedge fund offerings and addresses the mission critical requirements that today’s hedge fund managers face, including the need to deliver accurate decision support information to the front and middle-offices as well as the need to minimize operating risk.

Available in two versions, Standard and Premier, the solution is designed to meet the diverse functional and technical requirements of hedge funds and fund-of-funds of all sizes and strategies. The Standard module uses the industry-standard Axys® portfolio management application to offer accurate equity and fixed-income accounting, flawless P&L measurement and the best reporting tools available in the investment management industry. The Premier module leverages the revolutionary Geneva® portfolio accounting engine to provide comprehensive securities coverage, including swaps and distressed debt. It also includes multidimensional P&L reporting by fund, strategy, trader, analyst and custodian, and it provides unprecedented data accuracy, access and scalability.

“We were utilizing a system that required a large number of workarounds, was very labor intensive, and required us to jump through hoops to extract data. We chose Advent to support our business because of the breadth of its product coverage, its open and scalable technology platform and the support we can rely on from the organization,” said Aaron Goldberg, Chief Financial Officer of AQR Capital Management, LLC.

“With the hedge fund market growing steadily, the need for comprehensive tools that can manage the many facets of hedge fund investments is increasing rapidly,” said Peter Hess, vice president of marketing, Advent Software. “This solution is the next step in helping hedge funds manage their operations and grow their businesses.”

Gaining Market Share with More Than 40 New Customers
The launch marks another milestone in Advent’s commitment to providing the strongest tools and technologies available in the alternative investments industry. Within the last year alone, over 40 hedge fund companies signed with Advent including AQR Capital Management and Canyon Capital Advisors.

“Each market within the financial services industry faces unique challenges. As a result, it’s critical that our overall business strategy maps back to those markets,” said Peter Caswell, President and CEO of Advent. “Advent for Hedge Fund Managers is one of several solutions we are introducing this year that is tailored to a specific niche within the broader financial community.”

About Advent

Advent Software, Inc. (www.advent.com) has been providing trusted solutions to the world’s leading financial professionals since 1983. Firms in 55 countries use Advent technology to manage investments totaling more than US $8 trillion. 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.

Contact:
Kathleen Golden
Advent Software, Inc.
301 Brannan Street
San Francisco  CA  94107
(415) 645-1336