SOURCE: Advent Software, Inc.
DUBAI, UNITED ARAB EMIRATES and LONDON and SAN FRANCISCO, CA--(Marketwire - Oct 1, 2012) - Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that ANB Invest is live on Advent's platform for asset management* to deliver portfolio, client relationship, trade and fund order management.
As a provider of Sharia-compliant and conventional funds for retail clients, Riyadh-based ANB Invest needed a solution to meet their evolving needs and business growth, which their legacy system could no longer manage. They also demanded a platform that would offer broader functionality and more operational efficiency.
"We chose Advent's platform for asset management because it is a fully integrated solution with the capacity to scale in line with our growth in assets under management and subscribers. It met our business as well as our operational requirements, from increased efficiencies of back office operations to audit trails," said Gary Littlejohn, CEO at ANB Invest. "We can run all of our funds on the solution, including open-ended and close-ended funds, ETFs, and funds offered on both Sharia-compliant and other bases. Advent has enabled us to increase automation in functions like subscriptions, redemptions and regulatory reporting."
"Advent's fully integrated, scalable and flexible technology has once again proven to be a winning solution to address our clients' business and operational needs," said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. "We're delighted that ANB Invest has selected Advent's platform for asset management, adding to our roster of Middle Eastern clients. We look forward to providing them with ongoing support as a true long-term partner helping to grow their business."
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.
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX) is an end-to-end portfolio management solution that integrates the front-office functions of prospecting, marketing, and customer relationship management with the back-office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today's amplified compliance environment. For more information on APX visit https://secure.advent.com/info/pr_apx.
About Advent Tradex®
Advent Tradex® is ideal for organizations seeking a reliable, web-based fund distribution platform. With Advent Tradex®, an unlimited amount of funds and their associated order types are made available to client advisors, branches, agents and the end clients. The order flow from initiation to back-office and through to the funds' administrators becomes highly automated -- a process which otherwise is very labor intensive and error prone. In addition to subscriptions and redemptions, Advent Tradex® elegantly handles fund switches, model orders, savings/pension plans, currency dealing, and fund and cash transfers. Advent Tradex® also manages fees and sales commissions. For more information on Advent Tradex®, visit https://secure.advent.com/info/pr_tradex.
Advent, the Advent logo, Advent Software, Advent Portfolio Exchange, Moxy, Advent Rules Manager, Advent Revenue Center, Advent General Ledger Exchange, Advent Tradex, Advent Corporate Actions and Advent Custodial Data 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 asset management offers Advent Portfolio Exchange® (APX), Moxy®, Advent Rules Manager®, Advent Revenue Center®, Advent® General Ledger Exchange (Advent® GLX), Advent Tradex®, Advent Corporate Actions® (ACA), and Advent Custodial Data® (ACD) for clients to select among in order to support key workflows and data across the entire investment process.