Retail industry super fund Rest has appointed State Street company Charles River Development to consolidate their front and middle office operations for managing asset allocation, global equities, fixed income, FX and futures.
The cloud-based Charles River Investment Management Solution would be implemented to support Rest’s internally managed investments as well as their whole-of-fund requirements by leveraging the Charles River Investment Book of Record for real time cash and positions.
Andrew Lill, Rest chief investment officer, said the platform’s flexibility and scalability would enable them to automate processes and achieve efficiency.
“Combining internal and external investment management in one desktop system will allow us to focus real-time on achieving strong long-term returns for our members,” said Lill.
Cameron Field, Charles River Development managing director – Asia Pacific, said the firm continued to build a strong local presence in Melbourne which was crucial to growing the client base in the superannuation sector.
“The adoption of Microsoft Azure as the cloud platform for our SaaS [software as a service] deployment delivers compelling benefits for this market such as the ability for clients to rapidly deploy new products and services, ease of increasing data and computing capacity, as well as a suitable approach for addressing data residency concerns,” Field said.
State Street currently provided Rest with custodial services as well as their data management solution State Street Alpha Data Services.