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Merganser Capital Management Selects Charles River IMS to Support Fixed Income Operations

- Charles River IMS v7.2 Offers Advanced Technology and Comprehensive Functionality for Growing Asset Managers -

BURLINGTON, March 29, 2004 — Charles River Development, a leading provider of financial software and consulting services to the global investment management, banking, pension, and insurance industries, today announced that Merganser Capital Management LP has chosen the Charles River Investment Management System (Charles River IMS) to support its fixed income operations. Merganser is a Boston, Massachusetts-based employee-owned registered investment advisory firm specializing in institutional fixed income management.

"The demands of the investment management business are increasingly complex," said Rich Woerner, Senior Vice President at Merganser. "With the doubling of our assets under management and an increased focus on our core bond strategy, we have found our clients' interest in analytical information about their portfolios is increasing at an exponential rate. We expect that Charles River IMS will be a key component in addressing these demands - providing a scalable portfolio management and compliance solution as our assets continue to grow."

Charles River IMS is an integrated software suite for portfolio management (Charles River Manager), order management and trading (Charles River Trader), and real-time compliance (Charles River Compliance). Merganser plans to integrate version 7.2 of Charles River Trader and Charles River Compliance with its proprietary portfolio management application and QED accounting system in the spring of this year. The consolidation of all Merganser’s investment management operations on a common, connected platform will help streamline workflow and improve efficiencies across the organization.

Charles River IMS v7.2 is the second deliverable in Charles River's next-generation technology strategy to offer its market-leading investment management suite on an open, platform-independent, services-based architecture that is able to scale and transform in conjunction with an investment manager's evolving business model.

Version 7.2 delivers a new Java-based Compliance engine, Web-based reporting tools, an XML/XSL Trade Gateway, and additional Messaging and Web Services APIs for systems integration. In addition, Charles River IMS v7.2 incorporates numerous functionality upgrades including enhanced portfolio modeling capabilities, Mortgage trading and TBA processing functionality (including EPN connectivity), FIX-based algorithmic trading, FIX-based fixed income allocations, and support for ISO15022 standards.