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Todd Gottula, senior vice president and general manager of global accounts at Advent

Vastardis adopts Geneva for fund of funds business

Vastardis Capital Services has adopted Geneva, Advent Software’s portfolio management and fund accounting solution, to support its fund of funds business. 

Vastardis was one of the earliest adopters of Geneva 8.0, the latest version of the product which includes portfolio management capabilities, integration to counterparties and data providers, and access to real-time data.

Vastardis is a fund administrator headquartered in New York with offices in Toronto and Singapore. The firm has approximately USD20bn in assets under administration. More than 75 per cent of assets administered by Vastardis are from fund of funds managers. 

John Stefankiewicz, partner and chief operating officer at Vastardis, says: “Funds of funds are particularly challenging, and with our prior system, we couldn’t integrate the way we wanted. The open architecture in Geneva has allowed us to integrate effectively our proprietary technology and workflow for our fund of funds clients. In addition, the enhanced bank debt and swaps functionality, new integration accelerators and superior data browsing found in the latest version of Geneva have put us in an even better position to grow our business.”

Todd Gottula (pictured), senior vice president and general manager of global accounts at Advent, says: “We are very pleased that Vastardis has upgraded to Geneva 8.0 to support its fund of funds business. This is a prime example of Advent’s solutions for the alternative asset market having the flexibility to support firms of all sizes and strategies. It is gratifying to know that the new features in the latest release of Geneva provide Vastardis with improved growth potential for both existing and new business.”

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