Press Release

Charles River to Provide Scalable, Enterprise-Wide Operational Support Solution for Morningstar’s Investment Management Group

March 21, 2019

Boston — March 21, 2019 —Charles River Development, a State Street company, today announced that Morningstar’s Investment Management group, a leading provider of discretionary investment management and advisory services, and subsidiary of Morningstar, Inc., has selected the Charles River Investment Management Solution (Charles River IMS) to support its initiative for a new family of funds offered through advisors. The Charles River IMS is a scalable, cloud-based platform that will support future expansion of Morningstar Investment Management group’s multi-asset portfolios.

“As firms expand their offerings, consolidating onto a single investment platform will help simplify their business model and support asset gains and product development,” said John Plansky, chief executive officer of Charles River. “Our SaaS delivery model provides a secure, cost-efficient solution that keeps clients up-to-date with Charles River’s latest capabilities.”

Charles River IMS will enable Morningstar’s Investment Management group to centralize investment functions on an interoperable platform, supporting market opportunities across North America, EMEA and APAC. The platform will automate compliance, portfolio management and risk analytics, trade lifecycle management, post-trade processing, and report generation.

“We sought a technology solution to support our recently launched family of mutual funds as well as our global investment management operations,” said Matt Radgowski, chief operating officer, Morningstar Investment Management. “Charles River demonstrated a deep level of capability that will accommodate our new multi-asset funds and investment approach while streamlining day-to-day responsibilities for our investment teams.”

Morningstar’s Investment Management group is among many Charles River clients that are transitioning investment management operations onto the cloud-based Charles River IMS platform. Given the complexity in today’s investment environment, Charles River’s SaaS model helps to improve professional productivity, simplify operations and lower overall technology costs. 

About Charles River, a State Street Company

Charles River Development, a State Street Company, enables sound and efficient investing across all asset classes. Investment firms in more than 40 countries use Charles River IMS to manage more than US$25 Trillion in assets in the institutional investment, wealth management and hedge fund industries. Our Software as a Service-based solution (SaaS) is designed to automate and simplify investment management on a single platform – from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Headquartered in Burlington, Massachusetts, we support clients globally with more than 750 employees in 11 regional offices. For more information, please visit

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 $31.62 trillion in assets under custody and administration and $2.51 trillion* in assets under management as of December 31, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at

* This figure is presented as of December 31, 2018 and includes approximately $32.44 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.

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The material presented herein is for informational purposes only. The views expressed herein are subject to change based on market and other conditions and factors. The opinions expressed herein reflect general perspectives and information and are not tailored to specific requirements, circumstances and / or investment philosophies.

Expiration Date: March 31, 2020
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