Commerce Asset Fund Managers Implements Charles River IMS to Support Funds Management Business

Charles River Development today announced that Commerce Asset Fund Managers (CAFM) of Malaysia has completed its implementation of the Charles River Investment Management System (Charles River IMS) in its Kuala Lumpur offices. CAFM, one of Malaysia’s leading fund managers with more than RM4 billion in assets under management, serves corporations, insurance companies, pension and unit trust funds, and government institutions. CAFM is using Charles River IMS to support its Malaysian equity, fixed income, and money market asset management operations.

CAFM began a phased, independent implementation of Charles River IMS in November 2003. According to Choong Yin May, head of technology at CAFM, both budget constraints and the maturity of the Charles River Investment Management System were major factors in the firm’s decision to implement Charles River IMS using internal resources rather than Charles River’s local implementation team. "We were able to reduce implementation costs because we found Charles River IMS to be a mature system - one that would accept our existing workflows without much customization. The system went live on April 5th and we’ve seen immediate operational improvements including a 50 % reduction in our daily trade allocation process."

CAFM’s implementation of Charles River IMS increases Charles River’s customer roster in the Asia-Pacific region to 16 including Queensland Investment Corporation, BT Financial Group, and Prudential. Founded in 1984, Charles River has grown to serve more than 125 of the world’s largest, most successful asset managers and over the past three years has significantly expanded its operational presence in the Asia Pacific region by staffing sales, engineering, and client support offices in Singapore, Sydney, and most recently, Melbourne.

The complete news release announcing Commerce Asset Fund Manager’s successful implementation of Charles River IMS is included below. Please contact me if you are interested in learning more about Charles River’s expanding Asia-Pacific client base and our growth strategy across the region.

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