Source: Charles River Development
Charles River Development, a provider of financial software and services to the global investment management community, today announced that Ayudhya Fund Management, with US$1.6 billion of assets under management, has gone live on the Charles River Investment Management System (Charles River IMS).
Ayudhya Fund Management, which is principally owned by the Bank of Ayudhya, Thailand's fifth-largest bank, implemented Charles River's scalable system to support its portfolio management, electronic trading and compliance operations for all asset classes, including: SWAPs and other derivatives, options, foreign exchange, international fixed income, as well as exotic securities and Thai-equity and -fixed income products.
The implementation of Charles River IMS was part of a companywide initiative to significantly enhance Ayudhya's investment management operations as the company strives to become the leading asset manager in Thailand. Charles River IMS contributed to this initiative by consolidating front- and -middle office operations on one integrated platform and giving Ayudhya true order management functionality. The system automates Ayudhya's portfolio management and modeling operations, expands its electronic trading with an embedded CameronFIX engine and full FIX4.4 support, and adds real-time compliance monitoring capabilities throughout the trading cycle. Web services and real-time XML messaging helps Ayudhya create unique money market reports, including those for Thai Bhatnet settlement standards, and simplifies the interface of Charles River IMS with Thai-focused Bonanza software and other systems.
"With its local team and knowledge of Thailand's unique compliance, trading and fund management issues, Charles River was the obvious choice for us," said Chatrapee Tantixalerm, Chief Executive Officer, Ayudhya Fund Management Co., Ltd. "We now have the most modern investment management system available, which Charles River delivered as planned. Thailand has some very complex investment products, including Thai bonds and other fixed income instruments. Charles River proved that it can handle these complexities, and we are confident in their ability to support our future investment management needs."
"Charles River has long recognized that local knowledge and experience is crucial to our strategy of serving our customers' needs regardless of the market," said Cameron Field, Managing Director Asia-Pacific, Charles River Development. "The nuances of Thailand's legal and regulatory requirements, combined with Ayudhya's sophisticated portfolio of international and local investments, posed significant challenges to its previous system. Charles River IMS is designed to meet any language, regulation or investment requirement. As a result, Ayudhya now has the tools it needs to manage and monitor complex portfolios and meet the investment demands of its clients."
Charles River has more than 45 Asia-Pacific region clients in countries such as Japan, Australia, New Zealand, Thailand, Singapore, Malaysia and Hong Kong.