LaCrosse Global Fund Services Selects Advent for New Administrative Services Offering
Cargill Subsidiary Now Implementing Geneva®
SAN FRANCISCO – July 11, 2007 – Advent Software, Inc. (NASDAQ: ADVS), the leading provider of software and services to the investment management industry, announced today that LaCrosse Global Fund Services has recently implemented Geneva® as a central component of its technology infrastructure to its clients in North America, Europe and Asia.
LaCrosse has 10 global offices providing operations, middle-office and administration services to the alternative investment industry. Its clients utilize a broad range of investment strategies, including equities, fixed income, foreign exchange, credit instruments, distressed debt, commodities, emerging markets and related derivatives.
“We needed a core investment management and accounting platform that could support our growing business,” said LaCrosse Co-Chief Executive Officer Stuart Feffer. “We chose Geneva® because it handles complex securities and fund structures very well, with full financial accounting. It also is a system that has proven to be highly scalable for large trade volumes.”
Used by eight of the top 10 fund administrators in the world, Geneva® is the leading global investment management and accounting platform for the alternative investment industry. Geneva® will help LaCrosse deliver client solutions that save time, cut costs and improve management and investor reporting.
“It was important to us that Geneva® was easy to install and integrate within our technology infrastructure. The depth and experience of the Advent team allowed us to get up and running quickly so we could offer the highest level of service to our clients,” continued Lacrosse Co-Chief Executive Officer Christopher Kundro.
“Advent is happy to welcome LaCrosse as one of our newest fund administrator clients,” said Vice President, Global Accounts Co-Head Chris Momsen. “Geneva® is an excellent fit for companies like LaCrosse that want to grow their business without increasing staff. Our implementation consulting team was successful in meeting the timetable for going live on the new LaCrosse system.”
About LaCrosse Global Fund Services
LaCrosse Global Fund Services is a provider of operations, middle-office and administration services to hedge funds with more than 200 employees in 10 global office locations. LaCrosse offers customized services that allow fund managers to save time, cut costs, improve reporting and enhance investor confidence so that they can focus on the markets and on financial performance. These services cover everything “after the trade,” including facilitation of prime broker communications, trade confirmation and confirm review, settlement of non-prime broker transactions, reconciliations, cash and collateral management, distressed debt operations, derivatives operations, valuation, P&L/NAV estimation and fund administration.
LaCrosse Global Fund Services' 10 global offices are located in Bogotá, Buenos Aires, Caracas, Istanbul, London, Minneapolis, Moscow, New York, São Paulo and Singapore. Current assets under administration are in excess of USD $12 billion, encompassing strategies traded by global portfolio managers who cover fixed income securities, interest rates, credit, foreign exchange, equities, commodities and related derivatives.
Advent Software, Inc. (www.advent.com
), a multi-national firm, has been providing trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $14 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. Advent is the only financial services software company to be awarded the Support Center Practices certification for being a world-class support organization.
Advent and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.