Charles River Development (Charles River), a front- and middle-office investment management solutions provider, today announced that Tisco Asset Management Co., Ltd. (Tisco), has selected the Charles River Investment Management System (Charles River IMS) to automate and streamline its investment management operations.
Additionally, with impending ASEAN Economic Community (AEC) regulatory changes set to liberalize the Thai market, the Charles River IMS will enable Tisco to expand the number of investment services they offer clients.
Miss Araya Thirakomen, managing director of Tisco said, "As a leading Thai asset management firm, we have a vision to create wealth for our clients by providing a complete line of asset management products. We manage more than 500 funds with a combined AUM of over 130,000 million baht, hold the top three positions in private and provident funds management and have the highest number of provident funds customers in Thailand. W ith 20 years' asset management experience, we recognize the importance of investing in technology and partnered with Charles River to ensure that our operations are competitive within the region."
The Charles River IMS will provide Tisco's fund managers with multi-asset, multi-currency portfolio, order and execution management, and real-time compliance and monitoring . The system will accommodate all 500 funds currently under Tisco's management, supporting complex instrument types and various models of investment funds including private, provident, and mutual funds. The system will enhance staff performance, improve time and data entry efficiency, allowing Tiscos fund manages to focus on their core strength of managing investment portfolios for clients.
Thirakomen adds; "We will go-live with the Charles River IMS this year to support the continued growth of our business and to better service the unique investment requirements of our high net worth clients. With impending regulatory changes set to open up the markets in our region, the Charles River IMS will enable us to support increased mandates and multi-asset, multi-currency instruments. We are a market leading provider of Foreign Investment Funds (FIF) in Thailand and the Charles River IMS will enable us to provide our clients with a wider range of investment serviceservices to choose including all funds that will be affected by the new rules and regulations."
"Over the past five years, Thailand has become one of the largest mutual fund markets in South East Asia," said Cameron Field, managing director-Asia-Pacific, Charles River Development. "Charles River has a deep understanding of Thailand's local instruments, workflows and practices. Our ability to meet asset managers' unique requirements, and lower costs with a single, consolidated platform, helps clients like Tisco enhance competitiveness and manage for growth."