Thailand’s Government Pension Fund Selects Charles River for Managing Their Front Office Operations
August 29 2023 - 9:05PM
Business Wire
Charles River® Development, a State Street company, announced
that Thailand’s Government Pension Fund (GPF), one of Thailand’s
largest pension funds with more than 1.2 million members, has
selected the Charles River Investment Management Solution (Charles
River IMS) to modernise their front office operations and manage
their domestic and international equity, fixed income and
multi-asset portfolios.
GPF will use Charles River IMS to deliver an automated workflow
with straight-through processing across their front and middle
office for portfolio construction, performance attribution, order
management and pre- and post-trade compliance. The platform will
provide near real-time cash, positions and available collateral,
and deliver benchmark data to help maximise operational
efficiency.
“As the investment schemes change, where assets are diverse and
investment strategies are increasingly complex, there is a growing
need for a system that can support more efficient and effective
investment decisions,” said Dr. Srikanya Yathip, secretary general,
GPF. “Selecting the Charles River IMS as a unified platform to
manage our investment process across asset classes will enable
greater automation, drive efficiencies and support collaboration
across teams, helping to grow our business and better serve our
members.”
“Charles River has a long history of working with pension funds
and other asset owners across the APAC region, and we understand
and support their unique business needs,” said Dennis Baillon,
director of Business Development, APAC, Charles River Development.
"Our platform helps firms like GPF consolidate their operating
model with flexibility in how to combine our technology and
services to support growth, whether that be through diversifying
into new strategies, asset classes or geographies.”
State Street has been servicing institutional investors in
Thailand for more than 25 years, establishing a representative
office in 2014. Over time the firm’s offerings have grown from
custody, investment management services and foreign exchange to
include securities finance, performance, risk and ESG analytics
alongside its public and private market front-office technology
through Charles River.
“We are pleased GPF has entrusted State Street to help manage
their increasingly sophisticated portfolio of investments,” said
Kevin Hardy, head of Southeast Asia, State Street. “As the second
largest economy in Southeast Asia, Thailand is an exciting growth
market for State Street, notably with our data-driven front-to-back
asset servicing platform State Street Alpha®. We are committed to
enhancing our capabilities and delivering service excellence to
institutional investors in Thailand.”
About Government Pension Fund
The Government Pension Fund (GPF) was established under the
Government Pension Fund Act B.E. 2539 in 1996 and provides
government officials with the payment of gratuity and pension upon
the completion of their official services. The fund has grown to
one of the largest pension funds in Thailand managing approximately
USD34 million AUM for its 1.2 million members. For more information
visit https://www.gpf.or.th/
About Charles River, A State Street Company
Investment, wealth and alternative managers, asset owners and
insurers in over 30 countries rely on Charles River IMS to manage
USD ~$58 Trillion in assets. Together with State Street’s middle
and back office services, Charles River’s cloud-deployed front
office technology forms the foundation of State Street Alpha®.
Charles River helps automate and simplify the 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 partner
ecosystem enables clients to access the data, analytics,
application and liquidity providers that support their product and
asset class mix. We serve clients globally with more than 1,250
employees in 11 regional offices. (Statistics as of Q2 2023)
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 US$39.6 trillion in assets
under custody and/or administration and US$3.8 trillion* in assets
under management as of June 30, 2023. State Street operates
globally in more than 100 geographic markets and employs
approximately 43,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of June 30, 2023 includes
approximately US$63 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.
© 2023 State Street Corporation - All Rights Reserved State
Street Corporation, One Lincoln St, Boston MA 02111
Information Classification: General
5907051.1.1.APAC.
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Media Kellie Smith kelliesmith@crd.com +61 3 8628 0100
ext: 1171
Kate Cheung kate.cheung@statestreet.com +852 3556 1103
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