SAN FRANCISCO, CA and LONDON--(Marketwire - May 17, 2012) - Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that it has been awarded "Best IT Provider" in the 2012 Hedge Fund Journal Service Provider Awards. The Hedge Fund Journal recognized Advent for a second consecutive year, for its industry-leading platform for alternative investment managers,* which supports the growth and success of European hedge funds.
Advent's platform for alternative investment managers, which is rooted in the award-winning Geneva®, covers the full spectrum of a hedge fund's business by offering front office decision support and portfolio management, middle office automation through trade capture and reconciliation, and full portfolio, fund, and investor accounting and reporting for the back office, among which hedge funds can choose the functionalities that they need. These features make the solution attractive to European hedge funds of all sizes that are looking to improve client service and comply with regulatory standards.
"Advent has built up Geneva® from a high-performance, back office accounting system to a firm-wide portfolio management solution, providing full investment, accounting, and operational support," said Rod Sparks, publisher at The Hedge Fund Journal. "This ability to meet the market's rapidly changing needs has enabled Geneva® to become an industry-leading, real-time global investment management and accounting platform with over 255 clients worldwide including hedge funds, asset managers, family offices, fund administrators and prime brokers."
Advent gained momentum in the European hedge fund market, working with clients to further its understanding of European hedge funds operations and business environment in 2011. In March 2011, Advent acquired London-based Syncova and integrated margin optimization into Advent's existing solutions. Additionally, the company has demonstrated its commitment to better serving the European hedge fund market by certifying ten new consultants on Advent's hedge fund solution and increasing the number of staff members and consultants working for Advent's hedge fund team in EMEA to more than 35.
"We consistently make significant investments in strengthening our technology offering and improving our service to deliver value to the hedge fund industry. This prestigious award is a testament to the difference we make by delivering innovative solutions that solve our clients' most pressing business needs," said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. "We're proud of our achievements in the region and are excited to continue to collaborate with our hedge fund clients to create and deliver technology that supports their business goals and overall success."
Advent's investments in the hedge fund space have been acknowledged by both new clients and the industry at large. In addition to the recognition by The Hedge Fund Journal in 2011, Advent has won Funds Europe, HFM Week and Waters Technology awards, and Advent's CEO Stephanie DiMarco was named one of the 50 Leading Women in Hedge Funds.
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/geneva_livedemo.
Advent Software, Inc., a global firm, has provided trusted solutions to the world's financial professionals since 1983. Firms in more than 60 countries count 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 operational risks and costs. 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's platform for alternative investment managers includes Geneva®, a global portfolio management and accounting platform.