Terra Partners, the New York-based money manager, has chosen a portfolio management and accounting package from Advent Software, the investment management software developer, for its back office in Prague ahead of expected growth in Central Europe.

Terra, an emerging markets specialist, manages two hedge funds - the Central European Privatisation Fund and Worldwide Opportunity Fund (Cayman), and expects to manage between $30m (€25.3m) and $50m before the end of 2004.