Thu, 07/02/2008 - 06:00
Advent Software, a leading provider of software and solutions to the alternative investment management industry, has announced that hedge fund administrator Fulcrum Group has implemented Geneva, its portfolio management and fund accounting solution.
As part of its full service offering and expansion strategy, Fulcrum has migrated its accounting platform to Geneva 7.0, the latest version of the portfolio management system designed to support complex global investment strategies.
With comprehensive instrument coverage, multicurrency capabilities and profit and loss reporting at the security level, Geneva enables Fulcrum to stay reconciled daily and to offer a wider range of services to its clients.
'Fulcrum's strategic initiative to provide full service administration was the primary driver behind our selection of Geneva for our accounting platform,' says Fulcrum's chief operating officer Chris Mulhern. Established in Bermuda in 1995, the group also has offices in New York, London, Canada, Ireland, the Cayman Islands and India.
Adds Mulhern: 'As we grow and extend our business, Geneva will benefit not only our overall service offering, but our business development and marketing as one of the key components that will help us achieve our goal of being a gold standard administrator.'
'Historically, Fulcrum has been known for administering many funds with complex instruments, products and strategies, and has built a reputation for this capability. The ability of Geneva to stay abreast and to handle new instruments, new strategies, and new reporting requirements made it extremely attractive.'
Chris Momsen, an Advent vice-president for sales and marketing and co-head of global accounts, says: 'Fulcrum joins a global community of more than 130 investment management firms who are committed to Geneva for operational efficiency. Not only has Geneva streamlined Fulcrum's existing processes, but it allows them to compete more effectively.'
Geneva is used by asset managers, hedge funds, fund administrators, prime brokers and mutual funds and offers comprehensive instrument coverage, full financial general ledger and integration tools that enable firms to manage complex investment vehicles, multiple investment strategies and tiered fund structures. Founded in 1983, Advent serves clients in 60 countries that manage investments totalling nearly USD14trn.
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