Charles River Development says that World Asset Management has bought its investment management system (Charles River IMS) to support the management of more than US $15 billion in equity and fixed income assets.
World Asset Management is a Michigan-based division of Munder Capital Management that specializes in quantitative investment management services. “Our index strategies investment process seeks to minimize total transaction costs, maintain a fully invested status and minimize tracking deviations,” says Todd B. Johnson, CEO at World Asset Management. “In most situations full replication is the best approach, and for many years we have relied on a custom list trading solution to support our continual product rebalancing efforts. As our business continues to grow and our portfolios’ expand we recognize the need for a more scalable, proven investment management system. We chose Charles River IMS for several reasons. The system’s Program Trading functionality is the strongest among trading systems we reviewed. In addition, its electronic order execution and comprehensive compliance rules library and rule-builder capabilities, and support for all asset classes best prepares us for the future. Charles River IMS is also used by Munder Capital Management, of which we are a division, so the decision was much easier from a contractual standpoint as well. Additionally, Charles River’s compliance rule library offers us the broad international rules coverage we require as managers of domestic and international assets and enables us the opportunity to create and assign mandates based on prospectus guidelines or individual clients requirements.”