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Advent Named European Back Office Provider of the Year by Funds EuropeAdvent Receives Recognition in the Funds Europe Awards 2011 as a Leading Provider of Technology for the Financial Services Industry (December 22, 2011)
SAN FRANCISCO, CA and LONDON -- (Marketwire) -- 12/22/11 -- Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that it has been named European Back Office Provider of the Year in the Funds Europe Awards 2011. The annual award recognizes Advent's track record of innovation in delivering an industry-leading hedge fund solution(1) in Europe.
Advent has gained momentum in the European hedge fund market. Advent's hedge fund and alternative investment manager solution Geneva® offers unparalleled fund and shareholder accounting coupled with flexible data access to provide transparency for both manager and investor to prove fund valuation and inform investment decision making. These innovative features, built on Advent's industry leading portfolio accounting platform, make the solution attractive to European hedge funds who are looking to grow, enhance client service and comply with regulatory standards.
In March 2011, Advent acquired London-based Syncova, integrating margin optimization into Advent's solutions and growing the UK team. Demonstrating Advent's ongoing commitment to better serve the region, the company has also certified ten new consultants on Advent's hedge fund solution, bringing the number of staff members and consultants working for Advent's hedge fund team in EMEA to more than 35.
"Advent is honored to be recognized as a global leader in providing hedge fund solutions. We have invested efforts toward deepening our understanding of the European hedge fund space, and this prestigious award reflects our company's strong momentum and commitment to the region," said Håkan Valberg, senior vice president and general manager, Advent Software EMEA. "Growing our team and skills, as well as rolling out innovative enhancements specific to this market, have been critical to our success and valuable services for our clients."
Advent's investments in the hedge fund space have been recognized by new clients and by the industry at large. Advent won 2011 Hedge Fund Journal, 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, reporting and investor accounting platform, is a proven solution for asset managers, hedge funds, fund administrators, prime brokers, and fund of funds that require a high level of operational efficiency and access to real-time P&L, performance, and exposure reporting. Geneva® offers comprehensive instrument coverage, a fully integrated financial general ledger, and industry-standard integration tools to enable firms to manage complex investment vehicles, multiple investment strategies, and unlimited 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 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.
(1) Advent's hedge fund solution is comprised of Geneva® for global portfolio management and accounting platform.
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