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Futuregrowth Asset Management Adopts Charles River® for Managing Fixed Income Strategies
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Charles River Development, a State Street Company, has been selected by Futuregrowth Asset Management to implement their Charles River Investment Management Solution (IMS) as the new front office investment system. This platform enhances risk and portfolio management, facilitates trading, and supports efficient collaboration. Futuregrowth, managing around R193 billion (approximately US$12 billion) in assets, aims to uphold ethical investment practices while streamlining operations. Charles River's established presence in South Africa underscores their commitment to operational efficiency and support for innovative investment strategies.
Positive
Futuregrowth Asset Management selects Charles River IMS, indicating trust in its capabilities.
The Charles River IMS enhances efficiency in risk and portfolio management, potentially improving Futuregrowth's client service.
LONDON--(BUSINESS WIRE)--
Charles River Development, a State Street Company, today announced that Futuregrowth Asset Management (Pty) Ltd. (FGAM), a South African Asset Manager, has selected the Charles River Investment Management Solution (Charles River IMS) as their new front office investment system.
Charles River IMS provides a unified platform for risk and portfolio management, trading and collateral management, helping FGAM’s investment team gain faster, better informed insights, collaborate more effectively and reduce operational friction across the enterprise.
“Managing investments in an ethical and sustainable way for stakeholders requires a technology platform aligned with our mission. Charles River’s flexibility will help maintain these principles by supporting our workflows, which will help ensure we meet the needs of our clients and communities,” said Barron Africa, Chief Operations Officer, FGAM. “Our systems will support various strategic projects by providing for end-to-end integration between our front and back office while supporting our complex credit fixed interest instruments.”
“Charles River has maintained a strong presence in South Africa and continues to support our growing client base in the region,” said John Reardon, Country Manager, Charles River Development. “Our investment platform helps firms like FGAM increase operational efficiency without reducing their ability to deliver innovative and ethical investment strategies.”
About Futuregrowth Asset Management
Futuregrowth Asset Management is a leading fixed interest investment company that manages around R193 billion (+/- US$12 billion) of assets as at 31 December 2021 on behalf of its investors, which are predominantly South African retirement insurance and retail funds. Futuregrowth has been part of the South African asset management landscape since 1995 and is an affiliate of the Old Mutual Investments Holdco (OMI). OMI has been the majority shareholder of Futuregrowth since 2008.
About Charles River, A State Street Company
Investment, wealth and alternative managers, asset owners and insurers in 30 countries rely on Charles River IMS to manage USD $36 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 1,000 employees in 11 regional offices. (Statistics as of Q4 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 $41.7 trillion in assets under custody and/or administration and $4.0 trillion* in assets under management as of March 31, 2022, 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 March 31, 2022 includes approximately $73 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.
