Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment management community, today announced that Waddell & Reed Investment Management Company and its affiliates, which have $70 billion in assets under management, have selected the Charles River Investment Management System (Charles River IMS) to provide a new portfolio management system, including for its equity, fixed income and foreign exchange operations.
Waddell & Reed will benefit from extensive portfolio management tools, streamlined trade order management and real-time compliance testing and monitoring on a single integrated platform. The firm will leverage the expertise and "best practices" experience of Charles River's Remote Application Management service. Charles River's Remote Application Management Service provides efficient management, administration and enhanced 24x7-support of Charles River IMS, including pro-active software-agent based monitoring, alert notification, application performance monitoring and tuning and user administration.
"As our company has grown, and with investment instruments now more complex than ever, we've realized a need for a more integrated portfolio management platform. Charles River offered the right system at the right time to match up with our ongoing needs," said Larry Cipolla, senior vice president and chief operations officer for Waddell & Reed Investment Management Company and Ivy Investment Management Company.
"Charles River IMS was designed from inception as a centralized platform to support all asset classes," said Tom Driscoll, Vice President, Sales and Marketing, Charles River Development. "We expect the system to support Waddell & Reed's continued growth."