Swedish Pension Fund Opts for Advent’s Geneva Platform

Stockholm-based two billion dollar pension fund will access the Geneva platform via a hosted provider.

stockholm
Stockholm-based Praktikertjänst AB:s Pensionsstiftelse is set to implement Advent's Geneva platform to support a variety of its asset management processes.

Praktikertjänst AB:s Pensionsstiftelse, the pension fund of the largest private health and dental care firm in Sweden, is set to roll out Advent's Geneva investment management platform.

According to San Francisco-based Advent Software, the fund, with approximately $2 billion under management, will access its Geneva platform via a managed-hosting provider.

"Our legacy system had reached the point where it could no longer meet our needs related to compliance, reporting, supporting flexible portfolio structures, instrument coverage, and more sophisticated strategies," explains Fredrik Ahlström, CEO of Praktikertjänst AB:s Pensionsstiftelse.

"We needed to improve efficiencies across our investment operations and integrate with external systems and counterparties. We were also looking to move to a hosted solution to free up resources and focus more on our core priority of managing our funds. Advent's Geneva met all of these requirements and together with their strong local presence in Sweden, made them the obvious choice over other vendors we evaluated."

Advent's Geneva platform recently won the award for the best portfolio accounting platform at this year's Buy-Side Technology Awards, while in May this year, the buy-side specialist unveiled extensive enhancements to its entire buy-side suite .  

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