San Francisco, March 21, 2006 - Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and services to the investment management industry, today announces that Kensington Investment Group, a mutual fund management firm focused on real estate securities with approximately $1.5 billion in assets, has migrated to Advent Portfolio Exchange® (APX) to achieve immediate efficiency gains, grow its business and best manage the firm’s specialized reporting needs.
“We’ve had tremendous success with Advent, and our transition to Advent Portfolio Exchange® provides us with increased flexibility in how we analyze our portfolios, which we expect will translate to better investment decisions,” said Paul Gray, portfolio manager for Kensington Investment Group. “Converting to a new portfolio management system can be a massive undertaking, but our transition with Advent was seamless, and with APX we’ll be able to scale with our growing business.”
APX solves many of the challenges investment firms face by fully integrating portfolio management with the front-office functions of marketing and CRM, as well as the back-office operations of accounting and reporting. A true end-to-end solution built on a single SQL relational database, APX delivers critical client and portfolio data through a rich, web-based user interface.
“APX represents our next generation in portfolio management technology. It was designed specifically for portfolio managers that need advanced user security and audit features, enhanced fixed income facilities and the ease of information exchange offered by a relational database,” said William Penney, Senior Director of Product Marketing of Advent Software. “Kensington was one of our first clients to take advantage of the solution’s full potential and we’re proud to contribute to their continued success.”
The greater scalability of APX has also opened the door to new possibilities. “Advent Portfolio Exchange® has a solid back in terms of reliability and data integrity. With that in mind, we decided to overcome the general hesitancy and risk avoidance that a company often feels regarding technical issues with implementing something new,” said Kensington IT director Greg Sneddon, “Our decision to go ahead has put us in a better position now.”
Since 1994 Kensington has partnered with Advent for portfolio management solutions. In addition to APX, Kensington uses Advent Moxy® for trading. Prior to its migration to APX, Kensington used Advent Axys® for portfolio management and accounting.
Advent Software, Inc., a multi-national company, has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in more than 60 countries using Advent technology manage investments totaling more than US $12 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, Axys, and Advent Portfolio Exchange are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
# # #
Advent Software, Inc.
Ogilvy Public Relations