Commerce Asset Fund Managers Of Malaysia Buys Charles River IMS

Charles River Development says Commerce Asset Fund Managers (CAFM) of Malaysia has completed implementation of the Charles River Investment Management System (Charles River IMS) in its Kuala Lumpur offices. CAFM, one of Malaysia's leading fund managers it has more than

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Charles River Development says Commerce Asset Fund Managers (CAFM) of Malaysia has completed implementation of the Charles River Investment Management System (Charles River IMS) in its Kuala Lumpur offices.

CAFM, one of Malaysia’s leading fund managers – it has more than RM4 billion in assets under management – provides companies, insurance companies, pension and unit trust funds, and government institutions with asset management services.

CAFM, which is using Charles River IMS to support its Malaysian equity, fixed income, and money market asset management operations, began a 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,” he says.

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.

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