Munder Capital, an asset management firm with USD21 billion AUM, has implemented Advent Portfolio Exchange (APX), Advents portfolio and client management platform.
Munder was previously using two separate portfolio accounting systems, one for fixed-income reporting and one for portfolio accounting. The firm decided to look for a new integrated portfolio management solution with accounting capabilities for its fixed-income portfolios, which included mortgage-backed securities, in addition to traditional corporate and government instruments.
Because we’re now on one system, we don’t have to worry about interfacing or manually keeping up more than one accounting system, which is a tremendous improvement for us, said Judy Weipert, Manager of Investment Operations. Our previous system could take up to 30 seconds just to post one trade of one security in one account. When we imported trade files from our trading system, it took hours with 1,000 trades. In APX, weve had files of 50,000 transactions that post in 30 or 40 minutes max. The difference is night and day.
In addition to APX, Munder uses Advent Revenue Center for billing and revenue management; Advent Custodial Data (ACD) for managing and reconciling portfolio information; Advent Corporate Actions (ACA) for customized, position-level corporate action reports; and Rex for reconciliation management.