Charles River to Provide Scalable, Enterprise-Wide Operational Support Solution for Morningstar’s Investment Management Group
March 21 2019 - 9:00AM
Business Wire
Charles River Development, a State Street company, today
announced that Morningstar’s Investment Management group, a leading
provider of discretionary investment management and advisory
services, and subsidiary of Morningstar, Inc., has selected the
Charles River Investment Management Solution (Charles River IMS) to
support its initiative for a new family of funds offered through
advisors. The Charles River IMS is a scalable, cloud-based platform
that will support future expansion of Morningstar Investment
Management group’s multi-asset portfolios.
“As firms expand their offerings, consolidating onto a single
investment platform will help simplify their business model and
support asset gains and product development,” said John Plansky,
chief executive officer of Charles River. “Our SaaS delivery model
provides a secure, cost-efficient solution that keeps clients
up-to-date with Charles River’s latest capabilities.”
Charles River IMS will enable Morningstar’s Investment
Management group to centralize investment functions on an
interoperable platform, supporting market opportunities across
North America, EMEA and APAC. The platform will automate
compliance, portfolio management and risk analytics, trade
lifecycle management, post-trade processing, and report
generation.
“We sought a technology solution to support our recently
launched family of mutual funds as well as our global investment
management operations,” said Matt Radgowski, chief operating
officer, Morningstar Investment Management. “Charles River
demonstrated a deep level of capability that will accommodate our
new multi-asset funds and investment approach while streamlining
day-to-day responsibilities for our investment teams.”
Morningstar’s Investment Management group is among many Charles
River clients that are transitioning investment management
operations onto the cloud-based Charles River IMS platform. Given
the complexity in today’s investment environment, Charles River’s
SaaS model helps to improve professional productivity, simplify
operations and lower overall technology costs.
About Charles River, a State Street Company
Charles River Development, a State Street Company, enables sound
and efficient investing across all asset classes. Investment firms
in more than 40 countries use Charles River IMS to manage more than
US$25 Trillion in assets in the institutional investment, wealth
management and hedge fund industries. Our Software as a
Service-based solution (SaaS) is designed to automate and simplify
investment management on a single platform – from portfolio
management and risk analytics through trading and post-trade
settlement, with integrated compliance and managed data
throughout. Headquartered in Burlington, Massachusetts, we
support clients globally with more than 750 employees in 11
regional offices. For more information, please visit
www.crd.com.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $31.62 trillion in assets
under custody and administration and $2.51 trillion* in assets
under management as of December 31, 2018, State Street operates in
more than 100 geographic markets worldwide, including the US,
Canada, Europe, the Middle East and Asia. For more information,
visit State Street’s website at www.statestreet.com.
*This figure is presented as of December 31, 2018 and includes
approximately $32.44 billion of assets with respect to SPDR
products for which State Street Global Advisors Funds Distributors,
LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.© 2019 State Street Corporation - All Rights
Reserved
2465262.1.1.GBL.
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version on businesswire.com: https://www.businesswire.com/news/home/20190321005066/en/
Mary Masi-Phelps, Charles River Development, +1 781-425-6155,
marymasiphelps@crd.com
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