China Asset Management Automates QDII Investment Operations
Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment community, announced Jan 12 that China Asset Management Company (China AMC) is live on the Charles River Investment Management System (Charles River IMS). China AMC is China’s largest fund manager. China Asset Management has implemented the latest Version 9 release of the Charles River IMS, which fully integrates order and execution management capabilities (OEMS) on a single platform. The implementation, delivered on time and on budget, also includes the Charles River Post-Trade module, which centralizes confirmation, trade matching, and settlement workflow and automates the post-trade process.
China AMC’s investment operations for assets managed under the Qualified Domestic Institutional Investor (QDII) scheme are now fully automated. QDII allows Chinese asset managers to invest in international assets on behalf of their clients. Users in the company’s main offices in Beijing and Hong Kong are currently using Charles River IMS. Charles River IMS interfaces with a number of third-party applications, including a Chinese domestic back-office system, and integrates with various proprietary systems.
“We looked at multiple solutions through a detailed evaluation process with the view to having a solution to support our assets in order to streamline and automate our front office investment platform,” said Lu Xiaoye, General Manager, Information Department, China AMC. “The Charles River IMS provides us with a platform that smoothly meets our current investment requirements.”
“China Asset Management is our first client in the region to automate operations with Charles River IMS Version 9, our most recent release,” said Cameron Field, Managing Director, Asia Pacific, Charles River Development. “As the QDII market in China is becoming increasingly competitive, Chinese fund managers are seeking greater efficiency and control in running their investment operations. They want to scale their business and support increasingly sophisticated products.”
In Asia Pacific, Charles River serves approximately 100 client sites across 14 Asian Pacific countries and is headquartered in Melbourne, with offices in Tokyo, Singapore and Beijing and regional presence in Brisbane, Sydney and Hong Kong. A team of fifty specialists, many of them bilingual Japanese/English and Mandarin/English speakers, provide investment managers with local implementation, consulting and support services.