PFPC has bought a hedge fund portfolio accounting application from Advent Software. Advent’s Geneva application will be used to provide clients with real-time portfolio accounting and processing; administer cancels and corrections, trade entry and processing; and perform forward rate calculations and income bifurcation.
“The global hedge fund market is growing and evolving at a rapid rate, making it an increasingly complex arena,” says Stephen M. Wynne, chief operating officer and executive vice president at PFPC. “For over 20 years, PFPC has been providing personalized processing, technology and business solutions to our alternative investment clients. To continue this effort and efficiently handle the increasing requirements of the market, we chose to adopt Advent’s Geneva solution. Not only are we confident that it will address the needs of our alternative investment clients, but Geneva’s scalable and flexible model conforms well to the open technology architecture of our Global Enterprise Platform.”
“We are delighted to have PFPC as a Geneva client,” adds Stephanie DiMarco, chief executive officer of Advent. “Geneva’s architecture ensures functional and technical scalability far beyond any other system currently available in the market. We are especially proud to have been chosen by a provider known for its high-quality service and commitment to state-of-the-art technology.”