Charles River Development, a State Street company, today
announced that Retail Employees Superannuation Trust (Rest), one of
Australia’s largest industry superannuation funds with
approximately 1.8 million members, has selected the cloud-based
Charles River Investment Management Solution (Charles River IMS) to
consolidate their front and middle office operations for managing
asset allocation, global equities, fixed income, FX and
futures.
Rest will implement Charles River IMS to support their
internally managed investments as well as their ‘whole-of-fund’
requirements, leveraging the Charles River Investment Book of
Record (IBOR) for real-time cash and positions. Rest will use
Charles River to support and deliver a transparent view and
workflow across their business, including portfolio construction,
decision support, risk, collateral management, order management and
compliance.
“The platform’s flexibility and scalability will enable us to
automate processes and achieve efficiencies at this time as we
build a global best practice internal investment capability.
Combining internal and external investment management in one
desktop system will allow us to focus real-time on achieving strong
long-term returns for our members,” said Andrew Lill, Chief
Investment Officer, Rest.
“Charles River continues to build a strong local presence in
Melbourne which is critical to supporting our growing client base
in the superannuation sector,” said Cameron Field, managing
director – Asia Pacific, Charles River Development. “The adoption
of Microsoft Azure as the cloud platform for our SaaS deployment
delivers compelling benefits for this market such as the ability
for clients to rapidly deploy new products and services, ease of
increasing data and computing capacity, as well as a suitable
approach for addressing data residency concerns.”
State Street currently provides Rest with custodial services as
well as their data management solution State Street Alpha℠ Data
Services.
About Rest Industry Super
Established in 1988, Rest Industry Super is one the largest
superannuation funds by membership, with around 1.8 million members
and around $60 billion in funds under management (as at 31 December
2020). Rest Investments has a 30-year history of focusing on
long-term investing across multi-asset portfolios to deliver
strong, superior returns for its members. Its investment team is
located across Sydney, Melbourne, New York and London.
About Charles River, A State Street Company
Investment firms, asset owners, wealth managers, hedge funds and
insurers in more than 30 countries rely on Charles River’s front
and middle office investment management platform to manage more
than US$30 Trillion in assets. Together with State Street’s middle
and back office capabilities, Charles River’s cloud-deployed
software technology forms the foundation of State Street AlphaSM.
The Charles River Investment Management Solution (Charles River
IMS) is designed to automate and simplify the institutional
investment process across asset classes, from portfolio management
and risk analytics through trading and post-trade settlement, with
integrated compliance and managed data throughout. Charles River’s
growing partner ecosystem enables clients to seamlessly access
external data and analytics, applications and liquidity venues that
support the unique demands of their product and asset class mix.
Headquartered in Burlington, Massachusetts, we serve clients
globally with more than 1,000 employees in 11 regional offices.
(Statistics as of Q1 2021)
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 $38.8 trillion in assets
under custody and/or administration and $3.5 trillion* in assets
under management as of December 31, 2020, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of December 31, 2020 includes
approximately $75 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.
© 2021 State Street Corporation - All Rights Reserved State
Street Corporation, One Lincoln St, Boston MA 02111
Information Classification: General 3437637.1.1.GBL.
Disclaimer:
Charles River Development - A State Street Company is a wholly
owned business of State Street Corporation (incorporated in
Massachusetts).
This document and information herein (together, the “Content”)
is subject to change without notice based on market and other
conditions and may not reflect the views of State Street
Corporation and its subsidiaries and affiliates (“State Street”).
The Content is provided only for general informational,
illustrative, and/or marketing purposes, or in connection with
exploratory conversations; it does not take into account any client
or prospects particular investment or other financial objectives or
strategies, nor any client’s legal, regulatory, tax or accounting
status, nor does it purport to be comprehensive or intended to
replace the exercise of a client or prospects own careful
independent review regarding any corresponding investment or other
financial decision. The Content does not constitute investment
research or legal, regulatory, investment, tax or accounting advice
and is not an offer or solicitation to buy or sell securities or
any other product, nor is it intended to constitute any binding
contractual arrangement or commitment by State Street of any kind.
The Content provided was prepared and obtained from sources
believed to be reliable at the time of preparation, however it is
provided “as-is” and State Street makes no guarantee,
representation, or warranty of any kind including, without
limitation, as to its accuracy, suitability, timeliness,
merchantability, fitness for a particular purpose, non-infringement
of third-party rights, or otherwise. State Street disclaims all
liability, whether arising in contract, tort or otherwise, for any
claims, losses, liabilities, damages (including direct, indirect,
special or consequential), expenses or costs arising from or
connected with the Content. The Content is not intended for retail
clients or for distribution to, and may not be relied upon by, any
person or entity in any jurisdiction or country where such
distribution or use would be contrary to applicable law or
regulation. The Content provided may contain certain statements
that could be deemed forward-looking statements; any such
statements or forecasted information are not guarantees or reliable
indicators for future performance and actual results or
developments may differ materially from those depicted or
projected. Past performance is no guarantee of future results. No
permission is granted to reprint, sell, copy, distribute, or modify
the Content in any form or by any means without the prior written
consent of State Street.
The offer or sale of any of these products and services in your
jurisdiction is subject to the receipt by State Street of such
internal and external approvals as it deems necessary in its sole
discretion. Please contact your sales representative for further
information.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210210005271/en/
Kellie Smith kelliesmith@crd.com +61 3 8628 0100 ext: 1171
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024