Veritas Asset Management has implemented the latest version of Advent Portfolio Exchange (APX).
An Advent client since 2006, Veritas has seen its assets grow from GBP1bn (USD1.5bn) to GBP9.4bn (USD14.8bn) in the time since it first implemented APX.
James Spence, investment operations manager for Veritas, says: “Working with Advent solutions has supported our almost exponential growth with a minimal increase in headcount. APX has given us the scalability and flexibility to manage the kind of growth we were hoping to achieve – and ultimately did.”
With a mix of globally diversified client portfolios and a series of funds focused on Asia, Veritas was especially interested in the enhanced global capabilities in APX.
“Throughout our relationship with Advent, we have seen the company become increasingly global in its outlook, and that is reflected in these enhancements,” says Spence. “Now we have a true multi-currency system, allowing us to trade and settle around the globe, which is important to our business.”
Hakan Valberg, president EMEA, Advent Software, says: “One of our key initiatives at Advent is to enable our clients to take advantage of new functionality easily and efficiently, making our solutions easy to adopt. The experience with Veritas demonstrates that firms can upgrade to the most current version with little disruption and at a reasonable cost.”