Comprised of five modules, “Advent for Hedge Fund Managers” is an expansion of Advent’s current hedge fund offerings and was designed to address the mission critical requirements that today’s hedge fund managers face, including the need to deliver accurate decision support information to the front and middle-offices as well as the need to minimize operating risk, according to the firm.
The five modules are:
- Fund Accounting & Reporting
- Partnership Accounting
- Investor Relationship Management
- Trading, and
- Prime Broker Reconciliation
The product is available in two versions, Standard and Premier. The former uses the Axys portfolio management application to support equity and fixed-income accounting, P&L measurement, and reporting tools. According to Advent, the Premier module leverages the Geneva portfolio accounting engine to provide securities coverage, including swaps and distressed debt. It also includes multidimensional P&L reporting by fund, strategy, trader, analyst, and custodian, along with expanded access and scalability.
Within the last year, over 40 hedge fund companies have signed with Advent, according to the firm.