Press Release
Krungsri Asset Management Adopts Charles River’s Strategic Cloud Solution
Melbourne — March 21, 2023 — Charles River Development, a State Street company, announced that Krungsri Asset Management Co Ltd. (Krungsri Asset), a leading Thai asset management firm and long-term client, has transitioned their front office operation to Charles River’s cloud-based platform. Krungsri Asset uses the Charles River Investment Management Solution (Charles River IMS) for their mutual, private, provident, and property funds supporting equity, fixed income, and derivative asset classes.
“Transitioning to cloud delivery and services in Charles River IMS has enabled us to modernize our operating model and deliver the most up-to-date capabilities to our portfolio management, trading and compliance teams,” said Prasert Impornrugee, chief technology officer, Krungsri Asset. “The solution supports our investment operations and frees up internal resources to focus on our business priorities all while managing costs with predictable technology and support spend.”
“Charles River has a long history of partnering with clients in Thailand and continues to support our growing client base across the Asia Pacific region,” said Martin Hofmeyr, director of Asia Pacific operations for Charles River Development. “Our platform helps firms like Krungsri Asset achieve their goals by better controlling costs and leveraging the latest capabilities our platform provides at the scale they need.”
About Krungsri Asset Management
Krungsri Asset Management Co., Ltd. (Krungsri Asset) is a leading asset management company in Thailand, offering a comprehensive range of products and services including mutual funds, private funds, provident funds, property funds and management of investment in future contracts. The Company was founded in 1996 as Ayudhya Jardine Fleming Co., Ltd (AJF), changing its corporate name to Krungsri Asset Management Co., Ltd in 2011. With the support of Bank of Ayudhya, a parent bank who is a member of MUFG (a global financial group), Krungsri Asset has consistently grown with total assets under management (AUM) of 540,691 million Baht (as of 31 December 2022). Krungsri Asset offers a wide array of funds made available through multiple distribution channels to reach all client segments including Bank of Ayudhya 600+ branch network, as well as selling agents under various categories including banks, securities, mutual fund brokerage securities, and Fintech companies. Krungsri Asset is committed to the delivery of unrivalled products, outstanding services, and stable returns to our clients. For more information, please visit krungsriasset.com.
About Charles River, A State Street Company
Investment, wealth and alternative managers, asset owners and insurers in 30 countries rely on Charles River IMS to manage USD ~$48 Trillion in assets. Together with State Street’s middle and back office services, Charles River’s cloud-deployed front office technology forms the foundation of State Street Alpha℠. Charles River helps automate and simplify the 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 partner ecosystem enables clients to access the data, analytics, application and liquidity providers that support their product and asset class mix. We serve clients globally with more than 1,250 employees in 11 regional offices. (Statistics as of Q4 2022)
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 $36.7 trillion in assets under custody and/or administration and $3.5 trillion* in assets under management as of December 31, 2022. State Street operates globally in more than 100 geographic markets and employs approximately 42,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management as of December 31, 2022 includes approximately $59 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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