Vanguard Group has consolidated management of taxable money market funds on the cloud-based Charles River Investment Management Solution (Charles River IMS).Vanguard is live on the platform, using Charles River IMS across the investment process, from pre-trade to post-trade and compliance. The Charles River Investment Book of Record (IBOR) provides portfolio managers and traders with real-time cash and positions and Charles River’s Data Service delivers benchmark and pricing data. Charles River IMS also enables users to incorporate its proprietary data and configure workflows unique to their product offerings.
Charles River IMS provides fixed income managers with streamlined workflows to access liquidity venues, identify investable cash, more easily manage counterparty limits and improve communication and collaboration between investment teams.
“As one of the world’s leading global fund providers, Vanguard is continuously enhancing our investment management function to help clients grow their wealth,” says Paul Malloy, Principal, Head of Municipals at The Vanguard Group Inc. “The move to Charles River IMS is an example of how Vanguard employs sophisticated investment systems to achieve efficiencies and improve investor outcomes.”
Adopting Charles River IMS has enabled asset managers to streamline compliance with SEC Rule 2a-7 money market requirements and reduce operational risk by automating manual processes and retiring several legacy proprietary applications. Charles River’s Software as a Service (SaaS)-based operating model supports operational resilience by delivering regular software upgrades, high quality data and on-demand scalability.
“Increased market volatility and regulatory oversight are driving fund managers to reevaluate their technology footprint and operating model,” said Matt Daly, Head of Americas, Charles River. “By consolidating onto Charles River IMS, firms can gain greater visibility into their investment process, use proprietary content more effectively and scale to support their growing product offerings.”
