SAN FRANCISCO – February 7, 2011 – Advent Software, Inc. (NASDAQ: ADVS) announced today that Tamale RMS®, the pioneering research management solution (RMS) that is part of the Advent suite, continues to expand its leadership across a diverse range of market segments and geographies.
In 2010, Advent added new Tamale RMS® clients globally and across numerous market segments, including asset management firms, wealth management firms, pensions, foundations, endowments, sovereign wealth funds, hedge funds, fund-of-funds and family offices. In addition to growing its hedge fund client base substantially throughout the year, Tamale’s client base among asset managers, wealth managers, institutional investors and multi-manager funds had increased from 10% to 45% since Advent’s acquisition of Tamale in 2008.
Representative clients added in 2010 include Wasatch Advisors, Talpion Fund Management LP, State of Wisconsin Investment Board, James Irvine Foundation and a sovereign wealth fund in Asia. In 2010, nearly half of Advent’s Tamale client base expanded their use of the product by adding additional seats or entire teams.
Tamale clients were added in Europe, the Middle East, Asia, South America and North America in 2010. Tamale’s client base outside of the U.S. has tripled since the acquisition. To support the global expansion of Tamale’s client base, Advent has grown its team in Asia in Singapore, Hong Kong and Beijing and has augmented its teams in Europe and the Middle East with additional sales and service personnel.
Mark Rice, Senior Vice President and General Manager of Tamale at Advent, commented, “Tamale’s expanding presence across a diverse range of market segments and geographies is a real testament to Tamale’s market leadership and the ‘must-have’ nature of an RMS. We are particularly pleased with the expanding use of Tamale® within our existing client base; strong adoption comes from high quality client service and the attention we give to our clients’ needs, and underscores the value that Tamale® brings to firms. The expansion of Tamale’s customer base has been enabled by Tamale’s superior product innovation and client service responsiveness and powered by Advent’s strength and proven reputation.”
Dushyant Shahrawat, Senior Research Director, TowerGroup, a Corporate Executive Board Company, commented, “Bringing automation, organization and discipline to the investment research process is becoming even more important, with new regulatory pressures and demands for greater transparency and disclosure across the investment industry. Research management systems continue to attract the attention of mutual funds, hedge funds and the wider alternative industry. What started as a U.S. phenomenon in 2007 is gaining popularity in other markets across Europe, Asia and the Middle East.”
About Tamale RMS®
Tamale RMS®, the industry’s original research management solution, helps portfolio managers and analysts organize and share their research, in order to manage more investment ideas, more effectively and document a firm’s investment process. The solution, which is used by thousands of investment professionals around the world, is highly configurable and organizes information around the workflow of each investment professional or team and provides features that enhance the research process. Tamale RMS® brings unparalleled efficiency and organization to the research process. For more information on Tamale RMS®, visit http://www.advent.com/solutions/by-product/tamale-rms.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Today firms in more than 50 countries rely 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 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, click here.
Advent, the Advent logo, Advent Software, Tamale and Tamale RMS are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.