SAN FRANCISCO – November 2, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Vastardis Capital Services™ is using Geneva®, Advent’s award-winning portfolio management and fund accounting solution, to support its growing fund-of-funds business. Vastardis was one of the earliest adopters of Geneva® 8.0, the latest version of the product which includes powerful portfolio management capabilities, out-of-the-box integration to counterparties and industry leading data providers, and easy to use and customizable access to real-time data.
Vastardis is a global fund administrator headquartered in New York with offices in Toronto and Singapore. The firm has approximately $20 billion in assets under administration. More than 75% of assets administered by Vastardis are from fund-of-funds managers. The firm turned to Advent to provide it with an investment platform that allowed for ease of integration with internal and third-party systems to support fund-of-funds workflow, while also providing enhanced security coverage to support direct strategy clientele.
John Stefankiewicz, Partner and Chief Operating Officer, commented, “Funds-of-funds are particularly challenging, and with our prior system, we couldn’t integrate the way we wanted. The open architecture in Geneva® has allowed us to integrate effectively our proprietary technology and workflow for our fund-of-funds clients. In addition, the enhanced bank debt and swaps functionality, new integration accelerators and superior data browsing found in the latest version of Geneva® have put us in an even better position to grow our business.”
Todd Gottula, Senior Vice President and General Manager of Global Accounts at Advent, commented, “We are very pleased that Vastardis has upgraded to Geneva® 8.0 to support its fund-of-funds business. This is a prime example of Advent’s solutions for the alternative asset market having the flexibility to support firms of all sizes and strategies. It is gratifying to know that the new features in the latest release of Geneva® provide Vastardis with improved growth potential for both existing and new business.”
Geneva®, a global portfolio management and accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and mutual funds that require a high level of operational efficiency and easy access to real time data. Geneva® offers comprehensive instrument coverage, full financial general ledger, and industry-standard integration tools to enable firms to manage complex investment vehicles, multiple investment strategies, and tiered fund structures. For more information on Geneva® visit https://secure.advent.com/info/pr_geneva.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. 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 visit http://www.advent.com/about/resources/demos/pr.
Advent, the Advent logo, Advent Software and Geneva are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Advent Software, Inc.