PFPC Enhances Its Global Hedge Fund Services

PFPC Enhances Its Global Hedge Fund Services with Advent Software's Geneva Solution

Wilmington, Del., San Francisco, CA., September 20, 2004 - PFPC, and its subsidiary, PFPC International Ltd., both members of The PNC Financial Services Group, Inc., announced today that each now offers premier real-time global portfolio accounting through Advent Software, Inc.’s Geneva® solution. The enhanced product offering symbolizes PFPC’s continuing commitment to provide clients with technology solutions that meet the rapidly evolving and complex requirements of the alternative investment industry. The new service includes the real-time capability to manage a wider variety of products requiring the application of international accounting principles and methodologies to support various trading strategies, and perform a wide range of multi-currency reporting and global tax accounting.

PFPC will also employ Geneva® to:

  • Provide real-time portfolio accounting and processing
  • Administer cancels and corrections, trade entry and processing, forward rate calculations and income bifurcation

With this new software technology, PFPC now offers clients the capability to better manage the intricacies of the global hedge fund market with built-in functionality that handles multiple business calendars (allowing for different country holidays), cross currency pricing and various date formats and languages.

Geneva® is the industry’s premier global investment accounting solution that solves the complex challenges faced by global asset managers, mutual funds, hedge funds, fund administrators and prime brokers, with speed and efficiency unmatched in the marketplace today. Geneva® features a large inventory of security types and transaction coverage, helping firms react to changes in business climate by handling both existing and future investment opportunities.

“The global hedge fund market is growing and evolving at a rapid rate, making it an increasingly complex arena,” said Stephen M. Wynne, chief operating officer and executive vice president at PFPC. “For over 20 years, PFPC has been providing personalized processing, technology and business solutions to our alternative investment clients. To continue this effort and efficiently handle the increasing requirements of the market, we chose to adopt Advent’s Geneva® solution. Not only are we confident that it will address the needs of our alternative investment clients, but Geneva®’s scalable and flexible model conforms well to the open technology architecture of our Global Enterprise PlatformSM.”

“We are delighted to have PFPC as a Geneva® client,” said Stephanie DiMarco, chief executive officer of Advent. “Geneva®’s architecture ensures functional and technical scalability far beyond any other system currently available in the market. We are especially proud to have been chosen by a provider known for its high-quality service and commitment to state-of-the-art technology.”

Advent Software, Inc. (NASDAQ: ADVS), 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. For more information, please visit Advent’s web site at www.advent.com.

PFPC is a leading provider of processing, technology and business solutions to the global investment industry. Our open business model enables us to deliver personalized solutions to meet client needs, preferences and requirements. Through our innovative, component-based Global Enterprise PlatformSM, clients can access a comprehensive array of investor and securities servicing capabilities. PFPC supports a global client base from offices in the United States and Europe, offering fund accounting and administration, transfer agency, custody and subaccounting services for $1.6 trillion in total assets and 55 million shareholder accounts*. Please visit us at www.pfpc.com.

The PNC Financial Services Group, Inc. (NYSE: PNC) is one of the nation’s largest diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.

*All PFPC numerical data as of 6/30/04.

Contact:
Kathleen Golden
Advent Software, Inc.
301 Brannan Street
San Francisco  CA  94107
(415) 645-1336

Rob Tacey
PFPC
(302) 791-2859