Colfondos Selects Charles River to Scale for Growth

Rhea-AI Summary

Charles River Development, a State Street company, has been selected by Colfondos S.A., one of Colombia's largest pension funds, to implement its cloud-based Investment Management Solution. This decision aims to streamline Colfondos' management of equity and fixed income portfolios. The platform will facilitate market expansion into Chile and Peru, utilizing Charles River's scalable architecture. Additionally, Colfondos manages approximately USD 13.2 billion in assets and serves nearly 3 million clients. Charles River's platform supports over USD 350 billion in assets across Latin America.

Positive

• Colfondos selected Charles River IMS for managing USD 13.2 billion in assets.
• This partnership allows Colfondos to enter new markets in Chile and Peru.
• Charles River’s platform supports over USD 350 billion in assets in Latin America, highlighting its market presence.

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• None.

Charles River Development, a State Street company, today announced that Colfondos S.A. Pensiones y Cesantías (Colfondos), one of Colombia’s largest pension funds, has selected the cloud-based Charles River Investment Management Solution (Charles River IMS) to manage their domestic and global equity and fixed income portfolios on a consolidated front and middle office platform.

Charles River enables Colfondos to meet the bespoke demands of their investment process and automate support across asset classes for the geographies they invest in. Colfondos will be able to enter new markets in Chile and Peru at enterprise scale, leveraging Charles River’s open architecture platform and interoperability with an ecosystem of liquidity, data and regulatory reporting providers.

“Charles River’s scalability and ability to handle Latin America workflows and asset classes enables us to automate processes and grow assets and accounts under management,” said Andrés Lozano, Chief Investment Officer, Colfondos. “Charles River’s local support teams and expertise in Latin America markets was key to our decision to adopt their platform.”

“For over 20 years, Charles River has maintained a strong presence in Latin America supporting our growing client base,” said Matt Daly, Managing Director, Charles River Development. “Our SaaS-deployed platform, built on Microsoft Azure, enables firms to expand their regional footprint, service new asset classes and address regulatory data residency requirements.”

Investment managers, pensions, private banks, wealth managers and insurance companies in Brazil, Chile, Mexico, Colombia and Panama currently manage over USD$350 billion on Charles River IMS.

About Colfondos
Colfondos S.A. Pensiones y Cesantias operates as a pension fund manager. The Company manages pension and investment funds with total AUM´s of USD 13.2 BN and has close to 3 mm clients. Colfondos is the third largest private pension fund in Colombia.

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 Alpha℠. 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 as of February 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

3490586.1.1.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 intend

FAQ

What does the partnership between Charles River and Colfondos mean for STT?

The collaboration enhances State Street's presence in Latin America, potentially increasing its assets under management.

How much does Colfondos manage in assets?

Colfondos S.A. manages approximately USD 13.2 billion in assets.

What markets is Colfondos expanding into using Charles River IMS?

Colfondos will expand into the Chile and Peru markets.

Why did Colfondos choose Charles River's platform?

Colfondos cited scalability, local support, and ability to handle Latin American workflows as key reasons for selecting Charles River.

How much assets do firms using Charles River IMS manage in Latin America?

Firms currently manage over USD 350 billion on the Charles River IMS platform across Latin America.