Thailand’s Government Pension Fund Selects Charles River for Managing Their Front Office Operations
Posted Sep 4, 2023 08:49 (GMT +7)
BANGKOK--(BUSINESS WIRE)--Sep. 04, 2023
Charles River® Development, a State Street company, announced that Thailand’s Government Pension Fund (GPF), one of Thailand’s largest pension funds with more than 1.2 million members, has selected the Charles River Investment Management Solution (Charles River IMS) to modernise their front office operations and manage their domestic and international equity, fixed income and multi-asset portfolios.
GPF will use Charles River IMS to deliver an automated workflow with straight-through processing across their front and middle office for portfolio construction, performance attribution, order management and pre- and post-trade compliance. The platform will provide near real-time cash, positions and available collateral, and deliver benchmark data to help maximise operational efficiency.
“As the investment schemes change, where assets are diverse and investment strategies are increasingly complex, there is a growing need for a system that can support more efficient and effective investment decisions,” said Dr. Srikanya Yathip, secretary general, GPF. “Selecting the Charles River IMS as a unified platform to manage our investment process across asset classes will enable greater automation, drive efficiencies and support collaboration across teams, helping to grow our business and better serve our members.”
“Charles River has a long history of working with pension funds and other asset owners across the APAC region, and we understand and support their unique business needs,” said Dennis Baillon, director of Business Development, APAC, Charles River Development. "Our platform helps firms like GPF consolidate their operating model with flexibility in how to combine our technology and services to support growth, whether that be through diversifying into new strategies, asset classes or geographies.”
State Street has been servicing institutional investors in Thailand for more than 25 years, establishing a representative office in 2014. Over time the firm’s offerings have grown from custody, investment management services and foreign exchange to include securities finance, performance, risk and ESG analytics alongside its public and private market front-office technology through Charles River.
“We are pleased GPF has entrusted State Street to help manage their increasingly sophisticated portfolio of investments,” said Kevin Hardy, head of Southeast Asia, State Street. “As the second largest economy in Southeast Asia, Thailand is an exciting growth market for State Street, notably with our data-driven front-to-back asset servicing platform State Street Alpha®. We are committed to enhancing our capabilities and delivering service excellence to institutional investors in Thailand.”
About Government Pension Fund
The Government Pension Fund (GPF) was established under the Government Pension Fund Act B.E. 2539 in 1996 and provides government officials with the payment of gratuity and pension upon the completion of their official services. The fund has grown to one of the largest pension funds in Thailand managing approximately USD34 million AUM for its 1.2 million members. For more information visit https://www.gpf.or.th/
About Charles River, A State Street Company
Investment, wealth and alternative managers, asset owners and insurers in over 30 countries rely on Charles River IMS to manage USD ~$58 Trillion in assets. Together with State Street’s middle and back office services, Charles River’s cloud-deployed front office technology forms the foundation of State Street Alpha®. Charles River helps automate and simplify the investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s partner ecosystem enables clients to access the data, analytics, application and liquidity providers that support their product and asset class mix. We serve clients globally with more than 1,250 employees in 11 regional offices. (Statistics as of Q2 2023)
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With US$39.6 trillion in assets under custody and/or administration and US$3.8 trillion* in assets under management as of June 30, 2023. State Street operates globally in more than 100 geographic markets and employs approximately 43,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management as of June 30, 2023 includes approximately US$63 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
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