SAN FRANCISCO and LONDON – May 24, 2011 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today unveiled a major new release of Geneva®, Advent’s award-winning global portfolio management and fund accounting solution. With the 8.5 enhancements, Geneva is one of the only solutions available that provides portfolio through fund and investor-level accounting on a single platform and extends the product’s portfolio management functionality into the front- and middle-office, making it a compelling offer for alternative investment firms worldwide.
Geneva® 8.5 includes integrated solutions that meet the needs of new market segments, including family offices, private equity firms and fund-of-funds, and are available on a single platform to help simplify operations and reduce total cost of ownership. By extending capabilities into the front-office, Geneva® makes real-time data accessible to traders and portfolio managers, providing increased transparency and enabling informed investment decisions.
Key enhancements to Geneva® include:
“We see an increasing convergence between private equity and hedge funds, with more managers offering both types of investment structures,” said Bob Schwartz, chief technology officer, GlobeOp Financial Services. “Our technology platform is both a distinct competitive advantage and a source of confidence for our clients. As the only industry accounting product that facilitates investor statements that reflect both hedge fund and equity investments, Geneva 8.5 can play an important role as we support our clients’ changing needs.”
“We simplify the processing and management of complex assets so firms can stay focused on making the best investment decisions for their clients,” said Todd Gottula, Senior Vice President and General Manager of Global Accounts at Advent. “Geneva 8.5 is another milestone in our ongoing effort to develop and deliver a complete portfolio management solution to help professionals at every level, at all types of firms, be successful.”
Geneva®, a global portfolio management and accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and mutual funds that require a high level of operational efficiency and easy access to real time data. Geneva® offers comprehensive instrument coverage, full financial general ledger, and industry-standard integration tools to enable firms to manage complex investment vehicles, multiple investment strategies, and tiered fund structures. For more information on Geneva® visit https://secure.advent.com/info/geneva_livedemo.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 50 countries count on Advent technology to run their mission-critical operations. 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 operational risks and costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.
Advent, the Advent logo, Advent Software and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
About GlobeOp Financial Services
GlobeOp Financial Services (LSE:GO.) is an independent financial administrator specializing in middle and back office services and integrated risk reporting to hedge funds, asset management firms and other sectors of the financial industry – including family wealth, banks, insurance companies, pension funds and corporate treasuries. By outsourcing to GlobeOp, clients can reduce their technology investments and operational risks, while increasing their focus on asset generation and portfolio management. Established in 2000, GlobeOp serves over 190 clients worldwide, representing $167 billion in assets under administration. Headquartered in London and New York, GlobeOp employs more than 1,900 people on three continents through its 10 offices in the Cayman Islands, India, Ireland, the UK and US. Further information: www.globeop.com, www.twitter.com/GlobeOp, www.globeopindex.com.
® 2011 - GlobeOp, GlobeOp Hedge Fund Index and the GlobeOp "G" are trade or service marks of GlobeOp and its affiliates.
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 conditions and developments, expected benefits of new functions, continued sales of existing products, the successful development, timing, anticipated features, functionality and market acceptance of new products and enhancements, the impact of initiatives by competitors, continued uncertainties and fluctuations in the financial markets and economic conditions and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2010 annual report on Form 10-K, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com.
Advent Software, Inc.