Boston, Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo – November 11, 2010 – Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment community, today announced that Ayudhya Fund Management Co., Ltd. (Ayudhya) is live on Version 8.2 of the Charles River Investment Management System (Charles River IMS). Ayudhya now has additional functionality for their fixed income, derivative and equity operations, including improved OTC derivatives workflows; embedded swap valuation and analytics; and expanded fixed income instrument coverage; among many other features.
Ayudhya, with more than THB 86 billion (USD 2.9 billion) in assets under management, has leveraged Charles River IMS since 2006 to integrate their front- and middle-office operations with their Thai back-office system, Bonanza, for the firm’s entire fund business. This recent upgrade gives Ayudhya additional functionality for fixed income instruments, which are the asset class of choice for a majority of Thai investors and an important growth area for the firm.
The firm also benefits from Thailand-specific fixed income enhancements and regulatory support. For example, Charles River IMS supports the Thai Bond Market Association’s unique pricing formulae for Thai bonds. Furthermore, portfolio managers have the relevant analytics to manage Thai bond portfolios. Charles River IMS helps Ayudhya comply with Thailand’s broad rules and regulations, allowing them to monitor individual counterparty risk across all asset classes and investment portfolios. The system’s cash-flow forecast tool also supports the income-focused nature of Thailand’s fund portfolios.
“The recent enhancements allow us to further expand our reach and depth across our fixed income and money market operations on one integrated platform,” said Prasert Impornrugee, Senior Vice President and Head of IT at Ayudhya. “Charles River has a track record for continually improving and investing in their products to serve the Thai market. We didn’t find that level of commitment and functionality in other vendors.”
“Charles River has invested heavily in functionality and instrument coverage for country-specific requirements,” said Cameron Field, Managing Director-Asia Pacific, Charles River Development. “Our Thai bond support allows Ayudhya to manage complex domestic securities, saving them time and mitigating operational risk.” The project was delivered on time and under budget, using a combination of Charles River onsite and offsite support.
In Asia Pacific, Charles River serves approximately 100 client sites across 14 Asian Pacific countries and is headquartered in Melbourne, with offices in Tokyo, Singapore and Beijing and regional presence in Brisbane, Sydney and Hong Kong. A team of fifty specialists, many of them bilingual Japanese/English and Mandarin/English speakers, provide investment managers with local implementation, consulting and support services.
About Ayudhya Fund Management Co. Ltd.
Ayudhya Fund Management Co., Ltd. (AYF) is one of the leading asset management companies in Thailand. The company has been established in 1996. Its major shareholder is Bank of Ayudhya, the fifth largest bank in Thailand. AYF provides a full of range of fund management services including mutual funds, private funds and provident funds with assets under management of over 86 billion Baht as of 27 Oct 2010. Our investment process is well-disciplined and with rigid controls to ensure high standards to the investors.
About Charles River Development
Charles River Development is a front- and middle-office software solutions provider to more than 300 investment firms in the institutional asset and fund management, wealth management/trust, alternative investment management, insurance, pension fund and fund administration/custody markets in over 35 countries. The Charles River Investment Management System (Charles River IMS) is an institutional-class multi-asset, multi-currency software suite that consists of five main modules: Charles River Manager for portfolio management and modeling; Charles River Compliance for real-time pre-trade, in-trade, post-execution and end-of-day compliance monitoring; Charles River Trader for order management, electronic trading and execution management; Charles River Post-Trade for the centralized management of trade matching, confirmation, and settlement workflow; and Charles River Performance for daily performance measurement, attribution, and performance risk.
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 system is fully integrated with the Charles River Network, a broker-neutral, financial network that incorporates global real-time electronic trading via FIX (Financial Information eXchange). Charles River also offers comprehensive FIX network and implementation services, as well as hosting and application management solutions.
Founded in 1984, Charles River maintains headquarters in Boston and primary offices in Beijing, London, Melbourne, New York, Paris, Singapore and Tokyo and has a local presence in every other major financial center of the world.