Vanguard Consolidates Taxable Money Market Fund Management on Charles River IMS
August 18 2020 - 9:00AM
Business Wire
Charles River Development, a State Street company, today
announced that Vanguard Group Inc. has consolidated management of
taxable money market funds on the cloud-based Charles River
Investment Management Solution (Charles River IMS).
Vanguard is live on the platform, using Charles River IMS across
the investment process, from pre-trade to post-trade and
compliance. The Charles River Investment Book of Record (IBOR)
provides portfolio managers and traders with real-time cash and
positions and Charles River’s Data Service delivers benchmark and
pricing data. Charles River IMS also enables users to incorporate
its proprietary data and configure workflows unique to their
product offerings.
Charles River IMS provides fixed income managers with
streamlined workflows to access liquidity venues, identify
investable cash, more easily manage counterparty limits and improve
communication and collaboration between investment teams.
“As one of the world’s leading global fund providers, Vanguard
is continuously enhancing our investment management function to
help clients grow their wealth,” said Paul Malloy, Principal, Head
of Municipals at The Vanguard Group Inc. “The move to Charles River
IMS is an example of how Vanguard employs sophisticated investment
systems to achieve efficiencies and improve investor outcomes.”
Adopting Charles River IMS has enabled asset managers to
streamline compliance with SEC Rule 2a-7 money market requirements
and reduce operational risk by automating manual processes and
retiring several legacy proprietary applications. Charles River’s
Software as a Service (SaaS)-based operating model supports
operational resilience by delivering regular software upgrades,
high quality data and on-demand scalability.
“Increased market volatility and regulatory oversight are
driving fund managers to reevaluate their technology footprint and
operating model,” said Matt Daly, Head of Americas, Charles River.
“By consolidating onto Charles River IMS, firms can gain greater
visibility into their investment process, use proprietary content
more effectively and scale to support their growing product
offerings.”
About Vanguard
Vanguard is one of the world’s largest investment management
companies. As of April 30, 2020 Vanguard managed $5.7 trillion in
global assets. The firm, headquartered in Valley Forge,
Pennsylvania, offers 425 funds to its more than 30 million
investors worldwide. For more information, visit vanguard.com.
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$29 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 April 2020)
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 $33.52 trillion in assets
under custody and/or administration and $3.05 trillion* in assets
under management as of June 30, 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 June 30, 2020 includes
approximately $67 billion of assets with respect to which State
Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as
marketing agent; SSGA FD and State Street Global Advisors are
affiliated.
©2020 State Street Corporation – All Rights Reserved
State Street Corporation, One Lincoln St, Boston MA 02111
3203331.1.1.GBL.RTL
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Mary Masi-Phelps marymasiphelps@crd.com 781-425-6155
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