San Francisco, CA, June 9, 2004 - Advent Software, Inc. (NASDAQ: ADVS) announced that its global investment accounting solution, Geneva®, has been enhanced with increased functionality for alternative asset processing, increasing its depth of security type and transaction coverage. Geneva® is the industry’s premier global investment accounting solution that solves the complex challenges faced by hedge funds, fund administrators, prime brokers, global asset managers and mutual funds, with speed and efficiency unmatched in the marketplace today.
The latest release of Geneva® features an enhanced inventory of security types and transaction coverage designed to meet the most current demands of the market, helping firms react to changes in business climate by handling both existing and future investment opportunities. Features in this version include:
• Revolving bank, term loan and distressed debt processing for complex sub-investment entity and aggregate level processing;
• Inflation-adjusted bonds, including treasury inflation protected securities (TIPS); and
• Continued functionality to format all outbound data from Geneva® in the Extensible Markup Language (XML).
All of the new functional features in Geneva 5.2 leverage Geneva’s revolutionary “zero effort” error correction, “perfect memory” audit trail, closed period accounting and unparalleled data access for report production.
BANK OF BERMUDA CITES GENEVA’S BUSINESS ADVANTAGES
“Geneva’s broad instrument coverage and its unique data access capabilities allow us to support a wide array of business analysis for our international organization,” said Chandra Arandjelovic, director of client services support at the Global Fund Services division of Bank of Bermuda, an AIF specialist administrator. “We’ve never had as much success with a technology solution as we have with Geneva.”
Geneva® is the only global portfolio accounting system that meets the stringent and complex needs of investment managers worldwide 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) infrastructures.
“Geneva’s real strength is in its breadth of instrument coverage, particularly in complex alternative assets. This strength, coupled with our track record for successful implementations, has helped us gain the trust and respect of large, multi-national firms. We will continue to build functionality that anticipates their needs and provides a sophisticated platform to meet complex business requirements in a meaningful way,” said Peter Hess, vice president of marketing for Advent.
Advent Software, Inc. (www.advent.com), 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.
ADVENT 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.