Canada Pension Plan Investment Board Selects Charles River IMS to Streamline Multi-Asset Portfolio Management
October 19, 2020
Boston — October 19, 2020 —Charles River Development, a State Street Company, today announced that Canada Pension Plan Investment Board (CPP Investments™) has selected the cloud-based Charles River Investment Management Solution (Charles River IMS) for managing portfolios across all publicly traded asset classes including equities, fixed income and derivatives. CPP Investments currently manages CAD 434.4 billion in assets on behalf of more than 20 million beneficiaries.
CPP Investments selected Charles River IMS to support their program to help modernize its public markets trading capabilities. The program aims to implement an integrated technology and data platform to support global trading across the entire public markets investment lifecycle with appropriate governance, controls and robust business architecture as well as to improve the operational risk exposure management.
“Our initiative is designed to ensure that our operating model and business processes can continue to support our investment strategy as products grow in complexity and markets become more fragmented,” said Poul Winslow, Senior Managing Director & Global Head of Capital Markets and Factor Investing, CPP Investments. “Developing these capabilities will allow us to increase efficiency, flexibility and scalability of our global trade execution and processing across developed and emerging markets, which will greatly benefit the Fund over the long-term.”
By consolidating investment processes across asset classes on a single platform, Charles River IMS enables CPP Investments to leverage technology and services that help drive efficiencies and better inform their asset allocation and investment decisions.
“Our selection of Charles River IMS will help CPP Investments to scale up to meet expected future growth and diversity in asset classes,” said Kelly Shen, Senior Managing Director & Chief Technology and Data Officer, CPP Investments. “Achieving a high degree of straight-through processing throughout the investment end-to-end lifecycle, will simplify our application landscape, and increase agility in portfolio management.”
Adoption of Charles River IMS, hosted on Microsoft® Azure, will help CPP Investments rationalize legacy applications and position their operating model to support growth, mitigate operational risk by replacing legacy applications, and help ensure consistent data across the enterprise.
“Leading investment organizations like CPP Investments are retiring legacy technology and bespoke processes to modernize their operating model, positioning their organizations for growth,” said Matt Daly, Head of Americas, Charles River. “Our strategic investments in technology, services and interoperability are paying dividends for our customers, helping them accelerate business transformation. Seamlessly integrating to proprietary and third-party solution providers, supported by a unified data model, enables asset managers and owners to streamline their investment processes.”
About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that invests around the world in the best interests of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments in public equities, private equities, real estate, infrastructure and fixed income are made by CPP Investments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At June 30, 2020, the Fund totaled C$434.4 billion. For more information, please visit www.cppinvestments.com.
About Charles River, A State Street Company
Investment firms, asset owners, wealth managers, hedge funds and insurers in more than 30 countries rely on Charles River’s front and middle office investment management platform to manage more than US$30 Trillion in assets. Together with State Street’s middle and back office capabilities, Charles River’s cloud-deployed software technology forms the foundation of State Street Alpha℠. The Charles River Investment Management Solution (Charles River IMS) is designed to automate and simplify the institutional investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s growing partner ecosystem enables clients to seamlessly access external data and analytics, applications and liquidity venues that support the unique demands of their product and asset class mix. Headquartered in Burlington, Massachusetts, we serve clients globally with more than 1,000 employees in 11 regional offices. (Statistics as of Q3 2020) For more information, please visit www.crd.com.
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 $33.52 trillion in assets under custody and/or administration and $3.05 trillion* in assets under management as of June 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide.For more information, visit State Street’s website at www.statestreet.com.
*Assets under management as of June 30, 2020 includes approximately $67 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated
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