SAN FRANCISCO – September 16, 2008 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that River Road Asset Management, LLC and Knightsbridge Asset Management, LLC are enjoying the benefits of Advent Portfolio Exchange® (APX), its award-winning, fully integrated portfolio and client relationship management solution.
Based in Louisville, KY, River Road Asset Management, LLC has more than $3.0 billion in assets under management. Knightsbridge has approximately $733 million in assets under management and is based in Newport Beach, CA. Both investment management firms sought a solution that would bring more automation to their processes and provide them with a cost-effective solution to accommodate growth and deliver quality service.
River Road Asset Management
A year after it opened its doors, River Road installed Axys®, Advent’s turnkey portfolio accounting and reporting solution. As the firm grew quickly, however, it needed an even more comprehensive and robust solution that could accommodate its growth, and that integrated portfolio accounting and reporting. River Road eventually migrated to APX to take advantage of its integrated platform and enhanced reporting functionality and scalability.
“APX enables us to produce a wide range of standard and customized reports to meet client requirements; we also use APX reporting to produce internal reports, which help the firm monitor risk, performance, and dispersion in its client portfolios,” said Thomas Mueller, Chief of Operations and Chief Compliance Officer, River Road Asset Management. “And we have significantly increased operational efficiency since implementing APX.”
River Road also uses Moxy®, Advent’s leading trade order management system. Added Mueller, “Leveraging the Advent suite for both of our core business operations – portfolio management and trading – enables us to operate in a more integrated, efficient manner, with less manual re-keying of data and the resulting risk of error.”
Knightsbridge Asset Management
Knightsbridge used to operate on multiple platforms, with a standalone portfolio accounting system, reports generated off spreadsheet software, and customer data scattered among different databases. After extensive due diligence on the alternatives, Knightsbridge selected APX.
“Part of the appeal of APX is that it incorporates a client relationship management (CRM) component, which was very important for us because we needed a way to consolidate all the different contact information,” said Chad Neault, Analyst, Knightsbridge Asset Management. “Having full CRM functionality integrated with portfolio data enables us to take a more holistic approach to managing client data and has also helped us streamline our reporting process considerably, which ultimately means better service for our clients. “
Knightsbridge also uses Moxy® and Advent’s powerful straight through processing (STP) solutions, including Advent® Custodial Data, Advent Corporate Actions®, and Advent’s FIX interface. Concluded Neault, “The efficiencies and workflow improvements gained are well worth the transition. Using Advent’s suite has been great. It’s given us the control we wanted and it has linked the two sides of the office, which enables us to complete a myriad of tasks more effectively – from keeping our portfolios clean to actually implementing investment decisions more quickly. I know we made a great choice.”
“APX provides River Road and Knightbridge with a cost-effective, proven solution designed to reliably handle the operational demands of their growing business and support their asset management strategies,” said Michele Holton, Director of Product Marketing for Advent. “We are delighted that Advent’s suite is helping these two firms support their current businesses while providing a platform that facilitates their continued success.”
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX), Advent’s next generation portfolio management product, fully integrates the front-office functions of client relationship management (CRM) with the back-office operations of portfolio accounting and reporting. This award-winning enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment. For more information on APX, please click here.
Advent Software, Inc. (www.advent.com), a global company, has provided trusted solutions to the world’s leading financial professionals since 1983. Firms in 60 countries use Advent technology and manage investments totaling nearly US $18 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 Service Capability and Performance certification for being a world-class support organization. For more information on Advent products, please click here.
The Advent logo, Advent Software, Advent, Advent Corporate Actions, Advent Portfolio Exchange, Axys and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.