Rothstein Kass & Co. P.C. Selects Advent Software’s Geneva®San Francisco, CA, November 19, 2003
- Advent Software, Inc. (Nasdaq: ADVS) today announced that Rothstein Kass & Company, P.C.’s affiliated fund administration firm, RK Consulting, LLC, licensed Geneva® to provide portfolio accounting services and facilitate domestic tax accounting requirements for its clients. Geneva is the industry’s premier global investment accounting solution that solves the complex challenges faced by hedge funds, fund administrators, prime brokers, global asset managers and mutual funds with the speed and efficiency unmatched in the marketplace today.
RK Consulting provides a full range of administration and outsourcing solutions to hedge funds, private equity funds, and fund of funds located throughout the world. The firm, with offices throughout the United States and in the Caymans, will use Geneva for its domestic and offshore funds administration. Through its relationship with Rothstein Kass, Advent will be enhancing Geneva’s tax compliance functionality.
“Geneva has proven itself in the hedge fund industry as a solution particularly suited to firms with offshore funds. The combination of its existing functionality, the Geneva team’s expertise in our business, and Advent’s commitment to the work we’ll do together for further tax compliance made Geneva the right choice for us,” said Maury Cartine, a senior principal with Rothstein Kass.
Geneva is the only global portfolio accounting system that meets the stringent and complex needs of investment managers worldwide when accounting for high volume, traditional, derivative, domestic and global investment strategies, as well as when integrating accounting data into their straight-through processing (STP) infrastructures.
“As the hedge fund industry becomes increasingly competitive, firms are investing in technology to help reduce operating costs and make significant gains in productivity and efficiency,” said Advent marketing vice president Peter Hess. “Geneva is winning in this market because its unique architecture is based on unprecedented technology innovations that go far beyond anything commercially available in the marketplace today. We’re extremely pleased to be attracting the attention of such firms as Rothstein Kass.”
Twenty-two global hedge funds, with estimated cumulative assets under management of more than $60 billion and representing ten percent of the estimated global hedge fund assets, now use Geneva. In addition, seven of the top 12 prime brokers with a client base representing approximately one-third of the global hedge fund industry, four global fund administrators, and two major global asset managers also use Geneva. While 15 of the top 25 hedge fund managers use Geneva, Advent provides a range of solutions for hedge funds of all sizes and strategies – from start-ups to medium long/short equity only hedge funds, to large, multi-billion dollar, multi strategy hedge funds.
Advent Software, Inc. (www.advent.com) has been providing trusted solutions to the world's leading financial professionals since 1983. Firms in 55 countries use Advent technology to manage investments totaling more than US $8 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.
NOTE: GENEVA is a registered trademark of Advent Software, Inc or its subsidiaries. All other products or services mentioned herein are trademarks or registered trademarks of their respective companies.