Contrarian-Value Manager, Dreman, Automates Investment Operations and Electronic Trading with Charles River
Excerpt from Forbes.com highlighting Dreman Value Management, LLC’s (Dreman) implementation of the Charles River Investment Management System.
Dreman Value Management, LLC (Dreman), a pioneer in contrarian value investing with $18.5 billion of assets under management, is live on the Charles River Investment Management System (Charles River IMS) for automated portfolio management, trading and compliance of its equity investing and fund portfolio operations. Dreman users are also live on the Charles River Network for real-time electronic trading via FIX (Financial Information eXchange).
The project was managed by Dreman’s Chief Technology Officer, Bill Donnelly, and delivered on-time and on-budget. This project completes Phase One of a larger Dreman initiative to incorporate the full spectrum of investment accounts, including its wrap accounts, onto the Charles River IMS Platform. In addition, Charles River customized the Charles River IMS post-trade engine and created seamless interfaces with third-party providers.
“Dreman Value Management is poised for growth – we have been making the right investments to expand and grow the firm to meet our strategic goals,” said David Dreman, Chairman and Chief Investment Officer, Dreman Value Management. “Being a Value Manager, we run a very lean shop. Technology must return value to clients and prepare us for the future. We now have that in place to take the firm to the next level of success.”
“Technology is an enabler for our business, and we wanted to have the technical infrastructure that would allow us to scale and automate,” said Boris Onefater, Chief Executive/Operating Officer, Dreman Value Management. “We conducted a very thorough search and Charles River consistently won high marks for its products. Their implementation services – including their on-site experts who understood both our business and our operational needs – exceeded our expectations. We’ve been very pleased with the results; for example, our traders have highlighted Charles River’s FIX capabilities, especially the time-saving automatic allocations, as a key benefit.”
“From the start, the entire Dreman team was very clear about how this project would help their growth strategy,” said Tom Driscoll, Vice President, Sales and Marketing, Charles River Development. “They now benefit from a multi-asset class system that is proven around the world.”
“Compliance is critical to our business and the Charles River system integrates the compliance workflow with our modeling and order management operations. Compliance is now everyone’s business – including portfolio managers and traders, as well as compliance and operations personnel,” said Onefater. “Our clients who are familiar with Charles River IMS tell us that Dreman now has a system that is commensurate with its reputation.”
|
|
