SAN FRANCISCO, CA, May 22 (MARKET WIRE) --
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and
solutions for the global investment management industry, today announced that it
sponsored HedgeFund.net's (HFN) biannual Hedge Fund Administrator Survey, which
offers an
in-depthlook into the fund administration marketplace.
The survey, the third of its kind, includes data from over 60 of the world's
largest fund administrators, which collectively administer assets for over 95%
of the total hedge fund market. Based on its findings, HFN reports an
estimated $2.8 trillion in total global hedge fund assets under administration,
an increase of 7.7% from September 30, 2007, when the prior survey was
conducted. The survey also found an 11% increase in the number of hedge funds
with assets being managed by a fund administrator over the same six month
period.
A fund administrator acts as an extension of the hedge fund's operational
staff, and
performs the accounting, valuation, and in many cases, investor servicing of the
fund. Selecting the right fund administrator is critical to the success of the
hedge fund, so the survey data serves as an excellent source of information for
hedge funds as they evaluate potential fund administrators.
"This information is extremely timely and offers an encouraging view on
thehealth and diversity of the alternative asset marketplace," said Chris
Momsen,
Senior Vice President and Co-Head of Global Accounts for Advent. "The fund
administration business has become highly competitive and dynamic, and
sponsoring this survey gives Advent an important opportunity to shed light on
the
rapid evolution of the industry."
Added Momsen, "For 25 years, Advent has been a leader in innovative
solutions that
increase transparency and ease accounting and administration for complex
instruments.
Geneva(R), our award-winning portfolio management, accounting and reporting
platform, is a proven industry leader within this market, and we are very proud
that Geneva(R) is the platform of choice for 13 of the top 20 fund
administrators noted in this survey."
About Geneva(R)
Geneva(R), a global investment management and accounting platform, is a
proven solution for asset managers, hedge funds, fund administrators,
primebrokers, and mutual funds that require a high level of operational
efficiency and
easy access to real time data. Geneva(R) offers comprehensive instrument
coverage, full financial general ledger, and industry-standard integration
tools enable firms to manage complex investment vehicles, multiple investment
strategies, and tiered fund structures. For more information on Geneva(R)
visit https://secure.advent.com/info/pr_geneva.
About Advent
Advent Software, Inc. (www.advent.com), a global company, has provided
trusted
solutions to the world's leading financial professionals since 1983. Firms in
60 countries use Advent technology and manage investments totaling nearly US $18
trillion. 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 organization. For
more information on Advent products visit
http://www.advent.com/about/resources/demos/pr.
The Advent logo and Geneva are registered trademarks of Advent Software,
Inc. All
other company names or marks mentioned herein are those of their respective
owners.
Contact:
Jessica Miller
Advent Software, Inc.
(415) 645-1668
Email Contact
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