SOURCE: Advent Software, Inc.

Advent Software, Inc.

November 19, 2009 09:10 ET

Advent Expands Its Outsourcing Service With Morningstar and Global Industry Classification Standard (GICS) Agreements

Agreements Offer 400-Plus Outsourcing Clients Investment Classifications and Customized Reference Data Sets

SAN FRANCISCO, CA--(Marketwire - November 19, 2009) - Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that it has entered into agreements with Morningstar, Inc. and Global Industry Classification Standard (GICS) to deliver investment classification information to its Advent Outsourcing Services(SM) clients for enhanced reporting. Advent Outsourcing Services(SM) offers Advent's award-winning suite of products in a fully outsourced environment.

Morningstar is a leading provider of independent investment research that provides data on more than 325,000 investment offerings, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. GICS provides a global standard for categorizing companies into industry sectors, enabling seamless comparisons across indices by industry, by region, and globally. Through the agreements, Advent Outsourcing Services(SM) clients now have access to mutual fund style and category classification information from Morningstar and GICS as part of their standard service.

In addition, Advent now offers new flexible position and performance reporting options designed to both leverage this data and give the user control over multiple reporting elements tailoring views into allocation and exposure. While these industry-recognized standards are offered to outsourcing clients, additional options are available to firms with unique classification requirements.

"Advent's adoption of both GICS and Morningstar classification standards for outsourcing customers is an important addition to our management and client reporting capabilities," said Charlie Atwill, managing member of Atwill Financial Consulting Group, LLC. "It provides us with a great deal of flexibility, saves us time -- and most importantly -- gives us, and our clients, a more accurate picture of the composition of the portfolios we manage. This is a system we can live and grow with for the long haul."

"Our relationships with Morningstar and GICS help us deliver industry-leading best practices to Advent's 400-plus outsourcing clients and adds further value to our outsourced offering," said Michael Lobosco, Director of Advent Outsourcing Services(SM). "These arrangements demonstrate our commitment to investing in Advent Outsourcing Services(SM) and to the support of our clients' success through best-of-breed market intelligence and access to timely, accurate and robust data."

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 325,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 20 countries and minority ownership positions in companies based in two other countries.

About Global Industry Classification Standard (GICS®)

GICS was developed by Standard & Poor's and MSCI Barra. The GICS methodology aims to enhance research and asset management process for financial professionals worldwide. It is the result of numerous discussions with asset owners, portfolio managers and investment analysts around the world. GICS was designed in response to the global financial community's need for accurate, complete and standard industry definitions. GICS provides more than 38,000 company classifications in over 100 countries and covers over 98% of the world's total market capitalization. The GICS structure consists of 10 sectors, 24 industry groups, 68 industries and 154 sub-industries.

About Advent Outsourcing Services(SM)

Advent is a complete outsourcing business partner for investment management firms. From secure managed hosting services, to comprehensive and customizable data management, operations and client reporting solutions, Advent Outsourcing Services(SM) helps more than 400 firms each day control costs, reduce operational risk and enable superior client service. For more information on Advent Outsourcing Services(SM) visit

About Advent

Advent Software, Inc., a global firm, has provided trusted solutions to the world's financial professionals since 1983. Firms in 60 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

Advent, the Advent logo and Advent Software are registered trademarks and Advent Outsourcing Services is a mark of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.

Contact Information

  • Contact:
    Jessica Miller
    Advent Software, Inc.
    (415) 645-1668
    Email Contact