Advent Software Launches Revolutionary Real-time Portfolio Accounting Technology Into the Global Asset Management Industry

Advent Software Launches Revolutionary Real-time Portfolio Accounting Technology Into the Global Asset Management Industry
San Francisco, Calif., March 17, 2003 - today announced the launch of its Geneva® solution, version 5.1, into the global asset management market. Geneva is the industry’s first global investment accounting solution to solve the complex challenges global asset managers face when accounting for high volume, traditional, derivative, domestic and global investment strategies, as well as when integrating accounting data into their straight-through processing (STP) infrastructure. Geneva’s innovative technology allows firms to reduce operating costs and minimize operating risk far beyond levels previously attainable with traditional systems.

Designed to address the needs of the global asset management market, Geneva leverages its unique technical architecture to deliver innovative tools to back offices for more reliable accounting data on a timelier basis and at much lower cost than traditional systems. Geneva clients significantly enhance their straight-through processing performance by delivering investment accounting data that is accurate from the outset.

Additionally, Geneva’s architecture ensures functional and technical scalability far beyond any other system currently available in the market, and is the only solution to feature such advanced capabilities as:
· True multi-currency support for global investment strategies and clients;
· Single data model sub ledger and general ledger accounting, eliminating data discrepancies and reconciliation processes;
· “Dynamic Error Correction,” to dramatically reduce the effort required to correct historical data and corporate actions;
· “Knowledge Date Reporting,” enabling easy identification of data error root causes;
· Unsurpassed flexibility of instrument coverage, accommodating any investment strategy or company direction;
· Proven technical and operational scalability, ensuring accelerated economies of scale as the business grows; and
· Seamless integration for both external and internal straight-through processing, reducing cost and timeframe for implementation.

“Asset Management firms are under tremendous pressure to adapt to changing investment strategies while closely managing operating costs, and a large portion of their back office expense is in the portfolio accounting domain. Replacement costs are high, so the best reason to replace a system is if there is a substantial technology innovation in the marketplace that enables huge gains in productivity and profitability. That’s where Geneva comes in,” said Peter Hess, vice president of marketing, Advent Software. “Geneva is truly a revolutionary approach to solving the problems associated with global investment accounting, and it has enabled existing clients to realize amazing results. Given Geneva’s unparalleled value proposition, combined with Advent’s 20 years of experience in delivering solutions to the asset management space, we feel confident that it will become the platform of choice in the global asset management market, as it has for prime brokerage and complex hedge funds.”

Global Asset Management Firms Already Experiencing the Benefits of Geneva
Two global asset management firms have already gone live with the Geneva solution. Fischer Francis Trees and Watts, a fixed income investment specialist with more than 30 years’ experience managing exclusively fixed income assets for large institutional clients, started the implementation process in April 2002 and went live with its first accounts in September 2002.

“When we realized that we needed to migrate our legacy system to a more advanced solution, we reviewed several global portfolio accounting solutions,” said Michael Wyne, managing director of Fischer Francis Trees and Watts. “What made Advent’s Geneva solution stand out was its ability to handle a wide and diverse array of global financial instruments, as well as its ability to rapidly incorporate new ones, which is critical to enabling our business to grow. Since our implementation, we have already experienced an increase in operational efficiencies and productivity.”

Advent expects to offer Geneva in more markets by the end of 2003.

About Advent

Advent Software, Inc. ( 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.

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