INVESTMENT MANAGEMENT NEWSFLASHES

Helsinki fund manager implements Advent; NY hedge fund implements risk-management software; Northern Capital Trust deploys Indata's I.M.S.

Opstock Asset Management, a Helsinki, Finland-based investment manager, recently implemented Advent Office for order management, portfolio management and reporting. Prior to implementing the San Francisco-based Advent Software's package, the firm was using its back-office systems and Microsoft Excel for its front-office functions.

Elliott Management Corporation, a New York City-based hedge fund with $3.5 billion in assets, recently went live with a solution from Cogency Software, a San Mateo-Calif.-based risk-management vendor. Elliott's business managers use Cogency Wisdom to analyze character and timing of taxable income through visible tax information. In the future, Elliott will also be using Cogency Software's counter-party-credit analyzer to evaluate exposure and potential default.

Northern Capital Trust, a Fargo-North Dakota firm with $800 million in assets, has deployed Indata's I.M.S. for Windows solution. The San Diego-based software vendor will provide the firm with portfolio-modeling, compliance, trade-order-management, performance-measurement and attribution solutions. I.M.S. for Windows will be based on Indata's recently developed interface with Metavante's Trust Accounting System.