London, San Francisco, May 23, 2005 – Advent Software, Inc.,(NASDAQ: ADVS), a leading provider of global investment management solutions, is proud to announce that Spinnaker Capital Group has selected Advent’s Geneva® to manage its global hedge fund business. Spinnaker Capital, with offices in London and Sao Paulo, Brazil, manages $2.4 billion in three funds focused on emerging markets across all asset classes and regions.
Geneva®, the industry’s premier global investment accounting and portfolio management solution, solves the complex challenges faced by global asset managers, mutual funds, hedge funds, fund administrators and prime brokers, with unmatched scalability and efficiency. In addition to its respected presence in the hedge fund industry, Geneva® is also used by seven of the top 10 global prime brokers and six of the top 10 global fund administrators.
Spinnaker Capital’s continued success was one of the drivers that led it to review its investment operations platform. Its management noted: “To achieve our goals we need a solid platform that can manage increased capacity without increasing costs, manage the more complex financial instruments we are likely to encounter, and be globally available on a 24x7 basis. Advent’s Geneva® met all these requirements.”
“Progressive organisations need to be confident they can rely on a scalable platform for their core investment accounting and portfolio management systems. Spinnaker Capital’s decision to select Geneva® continues to enhance our presence as a leading provider of solutions to the hedge fund community,” says Hakan Valberg, general manager Advent EMEA. “We look forward to a long-term relationship with Spinnaker Capital and are delighted to have such a renowned organisation join our growing list of hedge fund clients,” he said.
“Advent is making great strides in providing global hedge funds with proven, reliable solutions that meet the needs of their complex businesses. Our goal is to continue to evolve our technology in order to offer the industry the most compelling solutions,” said Peter Hess, senior vice president and general manager for Advent’s Global Accounts business.
Advent Software, Inc., (www.advent.com) 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 totalling 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.
ADVENT and GENEVA are registered trademarks of Advent Software, Inc. or its subsidiaries. All other company names or marks mentioned herein are those of their respective owners.
Kathleen Golden, Advent Software, Inc.