China Life Asset Management Company Selects Charles River Development to Automate Investment Operations
Integrated platform to support all assets classes
Boston, London, Melbourne, New York, Paris, Singapore and Tokyo — May 12, 2009 — Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment management community, today announced that China Life Asset Management Company, China’s largest institutional investor, has selected the Charles River Investment Management System (Charles River IMS) to automate its investment operations across all assets classes. The firm will benefit from extensive portfolio management, order management and real-time pre-trade compliance testing and monitoring capabilities on a single integrated platform, made available in a fully localised Chinese version.
“The China financial market is exceptionally fast paced. To be nimble in this ever-changing environment, and to be able to best cater to our customers, we needed an investment management system that is robust,” said Fengming Zhang, Executive Vice President, China Life Asset Management Company. “Charles River’s proven system, local knowledge and 24x7 regional support is critical to our growth strategy. We now have comprehensive portfolio management, and pre- and post-trade compliance capabilities that allow us to adhere easily to client mandates for our domestic Chinese business.”
“China Life Asset Management Company is a key strategic partner and Charles River’s first domestic asset management client in China,” said Cameron Field, Managing Director, Asia Pacific, Charles River Development. “As China rapidly deregulates its capital markets system, we are seeing increased demand by Chinese asset managers for a comprehensive front- to middle-office platform that can manage complex investment strategies as well as domestic products. Charles River IMS gives our clients the flexibility and necessary tools to create and manage portfolios of any asset class, including local Chinese equity and fixed income investments.”
Charles River serves over 315 clients worldwide, including 19 clients in Japan, and more than 100 client sites across 14 countries in Asia Pacific. With 50 specialists serving the region, many of them bilingual Japanese/English and Mandarin/English speakers, Charles River maintains Asia Pacific headquarters in Melbourne, offices in Tokyo and Singapore and has a regional presence in Brisbane and Sydney.
About China Life Asset Management Company
Founded by China Life Insurance (Group) Company and China Life Insurance Company Ltd jointly, China Life Asset Management Company is among the first professional insurance asset management institutions in China. The business of the company includes fixed income investments, equity investments, direct investments and international business. It is the largest institutional investor in the domestic capital market and an important participant in the money markets. Insisting on long-term value investing principles, the operation of the company is professional, standard, market-oriented and international under the unified requirement of safety, liquidity and yield. The company enjoys a pivotal position in the stock market, mutual fund market and fixed income market, bridging the capital market, money market and insurance market, and plays a significant supporting role of insurance capital in the construction of national economy.
About Charles River Development
Charles River Development is an award-winning provider of technology systems and services to over 315 investment firms in the institutional, mutual fund, banking, hedge fund, wealth management, insurance and pension industries in more than 30 countries. The Charles River Investment Management System is a comprehensive front- and middle-office software suite for all asset classes that includes: Charles River Manager for portfolio management and modeling; Charles River Trader for order management and electronic trading; Charles River Compliance for real-time pre-trade and end-of-day compliance; and Charles River Post-Trade for the centralized management of trade matching, confirmation, and settlement workflow. The system incorporates global real-time electronic trading via FIX (Financial Information eXchange) through the Charles River Network, a broker-neutral financial network that is fully integrated with Charles River IMS.
Charles River IMS features a modern, proven, N-Tier service oriented architecture (SOA) that is highly scalable and supports continuous 24x7 operations. Message-based APIs and exposed Web Services facilitate rapid systems integration.
The company also offers implementation, application management services and hosting. Founded in 1984, Charles River maintains headquarters in Boston and primary offices in London, Melbourne, New York, Paris, Singapore and Tokyo.
Charles River is the recipient of numerous recent industry awards including: Best Integrated Front-Office Platform and Best Buy-Side Order Management System, Buy-Side Technology Awards 2008, 2007; Best Buy-Side Order Management System, TradeTech 2008, 2007; and FinTech Top 100, American Banker/Financial Insights 2008, 2007.
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