Press Release
Charles River Selected to Manage Australian Ethical’s Front Office Operations
Sydney—October 23, 2024 —Charles River Development, a State Street Company, announced that Australian Ethical Investment has selected the Charles River Investment Management Solution (Charles River IMS) to automate its front and middle office processes for its entire investment portfolio.
Australian Ethical, a leader in ethical investment, will use Charles River IMS for portfolio and risk management, trading, compliance, performance measurement and attribution (PMAR), investment book of record (IBOR), and transaction management. It will also use the State Street Alpha® Data Platform and Services to manage its investment data. Charles River IMS is used by 325 clients globally, managing more than USD 59 trillion in assets1.
“The cloud-based, open architecture of the Charles River IMS provides an operating model that can meet the evolving demands of many businesses,” said Vinayak Bhat, Head of Asia Pacific and Middle East at Charles River. “Managing an investment lifecycle on a single platform gives companies the flexibility to scale the technology and services as their business complexity and needs change. We are excited to work with Australian Ethical and support their growth.”
Australian Ethical Chief Financial Officer Mark Simons said, “We are pleased to be implementing Charles River in our front and middle office which will complement our move to State Street back office investment administration. We see Charles River and State Street Alpha as a critical step in maturing our investment management platform end-to-end. Having seamless data management and connectivity across our portfolios will provide significant operational efficiencies and reduce risk as we continue to grow.”
This front and middle office mandate follows the appointment of State Street as Australian Ethical’s back-office provider. This new agreement means Australian Ethical will deploy State Street Alpha, the first front-to-back portfolio management, data and asset servicing platform from a single provider.
State Street’s Country Head, Australia, Tim Helyar, said he looks forward to working with Australian Ethical as a front-to-back Alpha client: “The mandate further demonstrates that State Street Alpha provides value to asset managers and owners of varying complexity and scale, who are looking to streamline their investment process to deliver efficiencies and insights across their investment operations, from portfolio construction to custody.”
State Street’s mandate with Australian Ethical also includes integration with key strategic partners within State Street Alpha’s partner ecosystem.
Mr Helyar said the Australian Ethical mandate was further proof of State Street’s commitment to the Australian market: “This further demonstrates the value of State Street, where we are combining integrated global capabilities with an operating model that has global scale and a strong local presence.”
1) As of Q3 2024. Assets are inclusive of clients using the platform for purposes of secondary compliance.
About Australian Ethical
Australian Ethical is one of Australia’s leading ethical investment managers. Since 1986, Australian Ethical has provided investors with investment management products that align with their value and provide long-term, risk adjusted returns. Investments are guided by the Australian Ethical Charter which shapes its ethical approach and underpins both its culture and vision. Australian Ethical has over $12 billion in funds under management across managed funds and superannuation. Visit www.australianethical.com.au
About Charles River, A State Street Company
Investment and wealth managers, asset owners and insurers in over 30 countries rely on Charles River IMS to manage USD $59 Trillion in assets. Together with State Street’s middle and back office services, Charles River’s cloud-based 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 for Private Markets helps solve complex data challenges for investors in private credit, real estate, private equity, and infrastructure. Charles River’s partner ecosystem enables clients to access the data, analytics, application and liquidity providers that support their product and asset class mix. With more than 157% increase in headcount over the last 6+ years, Charles River serves clients globally offering 24/7 support. (Statistics as of Q3 2024. Assets are inclusive of clients using the platform for purposes of secondary compliance.)
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 USD $46.8 trillion in assets under custody and/or administration and USD $4.7 trillion* in assets under management as of September 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management as of September 30, 2024 includes approximately USD $83 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.
Charles River Selected to Manage Australian Ethical’s Front Office Operations
Sydney—October 23, 2024 —Charles River Development, a State Street Company, announced that Australian Ethical Investment has selected the Charles River Investment Management Solution (Charles River IMS) to automate its front and middle office processes for its entire investment portfolio.
Australian Ethical, a leader in ethical investment, will use Charles River IMS for portfolio and risk management, trading, compliance, performance measurement and attribution (PMAR), investment book of record (IBOR), and transaction management. It will also use the State Street Alpha® Data Platform and Services to manage its investment data. Charles River IMS is used by 325 clients globally, managing more than USD 59 trillion in assets1.
“The cloud-based, open architecture of the Charles River IMS provides an operating model that can meet the evolving demands of many businesses,” said Vinayak Bhat, Head of Asia Pacific and Middle East at Charles River. “Managing an investment lifecycle on a single platform gives companies the flexibility to scale the technology and services as their business complexity and needs change. We are excited to work with Australian Ethical and support their growth.”
Australian Ethical Chief Financial Officer Mark Simons said, “We are pleased to be implementing Charles River in our front and middle office which will complement our move to State Street back office investment administration. We see Charles River and State Street Alpha as a critical step in maturing our investment management platform end-to-end. Having seamless data management and connectivity across our portfolios will provide significant operational efficiencies and reduce risk as we continue to grow.”
This front and middle office mandate follows the appointment of State Street as Australian Ethical’s back-office provider. This new agreement means Australian Ethical will deploy State Street Alpha, the first front-to-back portfolio management, data and asset servicing platform from a single provider.
State Street’s Country Head, Australia, Tim Helyar, said he looks forward to working with Australian Ethical as a front-to-back Alpha client: “The mandate further demonstrates that State Street Alpha provides value to asset managers and owners of varying complexity and scale, who are looking to streamline their investment process to deliver efficiencies and insights across their investment operations, from portfolio construction to custody.”
State Street’s mandate with Australian Ethical also includes integration with key strategic partners within State Street Alpha’s partner ecosystem.
Mr Helyar said the Australian Ethical mandate was further proof of State Street’s commitment to the Australian market: “This further demonstrates the value of State Street, where we are combining integrated global capabilities with an operating model that has global scale and a strong local presence.”
1) As of Q3 2024. Assets are inclusive of clients using the platform for purposes of secondary compliance.
About Australian Ethical
Australian Ethical is one of Australia’s leading ethical investment managers. Since 1986, Australian Ethical has provided investors with investment management products that align with their value and provide long-term, risk adjusted returns. Investments are guided by the Australian Ethical Charter which shapes its ethical approach and underpins both its culture and vision. Australian Ethical has over $12 billion in funds under management across managed funds and superannuation. Visit www.australianethical.com.au
About Charles River, A State Street Company
Investment and wealth managers, asset owners and insurers in over 30 countries rely on Charles River IMS to manage USD $59 Trillion in assets. Together with State Street’s middle and back office services, Charles River’s cloud-based 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 for Private Markets helps solve complex data challenges for investors in private credit, real estate, private equity, and infrastructure. Charles River’s partner ecosystem enables clients to access the data, analytics, application and liquidity providers that support their product and asset class mix. With more than 157% increase in headcount over the last 6+ years, Charles River serves clients globally offering 24/7 support. (Statistics as of Q3 2024. Assets are inclusive of clients using the platform for purposes of secondary compliance.)
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 USD $46.8 trillion in assets under custody and/or administration and USD $4.7 trillion* in assets under management as of September 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management as of September 30, 2024 includes approximately USD $83 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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