South Africa's STANLIB Selects Charles River Development to Automate Fund Management Operations for all Asset Classes

9 September 2008

Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment management community, today announced that STANLIB Asset Management (STANLIB), South Africa’s third-largest investment manager with R340 billion (US$41.4 billion) under management (as of December 31, 2007), has selected the Charles River Investment Management System (Charles River IMS) to automate the investment management of its segregated and pooled fund operations for all asset classes. STANLIB users will benefit from extensive portfolio management tools, streamlined trade order management and real-time compliance testing and monitoring on a single integrated platform.

"STANLIB is committing to strengthening Africa’s position as a global competitor by advancing investment development and reform," said Shawn Smith, Chief Technology Officer, STANLIB Asset Management. "Charles River offers the technological infrastructure and local expertise we require to prepare for future growth and comply with today’s client mandates."

"Charles River has served buy-side investment managers in South Africa since 2006, and was one of the first global front-office system providers in the region," said Jon Steward, Managing Director, EMEA, Charles River Development. "Our in-country experts work closely with clients throughout South Africa to meet their special requirements and create seamless interfaces with local providers."

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