Boston, MA, November 13, 2002 - Advent Software, Inc.® (NASDAQ: ADVS), is pleased to announce that Rob Hegarty, Research Director, Investment Management Technology at TowerGroup, will speak today at Advent’s Fall Conference general session. The conference is being held here from November 13-15 at the Sheraton Boston. Mr. Hegarty will address the top10 business drivers impacting investment management technology today, including cost containment, a renewed focus on Straight-through Processing (STP), and the emergence of new investment products. TowerGroup is a leading financial services research and advisory firm.
“We’re excited to provide these findings to our clients. In addition, we plan to deliver a wealth of industry and solutions information over the course of our three-day event,” said Peter Caswell, President and CEO of Advent.
According to Mr. Hegarty, over the course of the past five years mutual fund net asset flows have fallen from $33 billion to $20.6 billion, leaving the investment management community with fewer assets to manage. Mr. Hegarty also notes that with T+1 being postponed, more firms are focusing on STP initiatives to solve internal workflow issues. And the emergence of new investment products is offering greater opportunities for investment management firms to grow their business and serve their customers.
Mr. Hegarty states, “While the recent contraction in the markets have forced most investment managers to cut technology budgets and do more with less, many of these firms have found ways to become more efficient and launch new products.”
The Advent Fall Conference, hosted annually, has grown into one of the investment industry’s premier forums. This year’s Fall Conference will address not only the issues presented by Mr. Hegarty, but also the continued emergence of services for high-net-worth investors, compliance with industry regulations, and a full schedule of Advent solutions training sessions.
Advent Software, Inc. has been providing trusted solutions to the world’s leading professional money managers 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 managers to improve service and communication to their clients, allowing them to grow their business while controlling costs. Advent’s common stock is traded on the NASDAQ National Market under the symbol ADVS.
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