BOSTON--(BUSINESS WIRE)--Charles River Development (Charles River) a front- and middle-office investment software solutions provider, today announced that Folketrygdfondet, which manages the Government Pension Fund Norway and Government Bond Fund on behalf of The Norwegian Ministry of Finance, has selected Charles River’s fully-outsourced application management and hosting solution for the Charles River Investment Management System (Charles River IMS). Folketrygdfondet is implementing the system as a multi-asset solution across its equity, fixed income, FX, money markets and derivatives investments for automated portfolio management, trading, compliance, and post-trade processing.
Charles River’s Managed Services offering includes Application Management, Hosting, and Software as a Service (SaaS) for the Charles River IMS and is designed to help reduce costs and increase ROI for clients by supplying system expertise, hosted infrastructure and data services. The company maintains top-tier primary and back-up data hosting centers in EMEA and the Americas.
“Clients like Folketrygdfondet want to focus on managing their investments; not handling day-to-day system and technology issues,” said Jon Steward, managing director-EMEA, Charles River Development. “For a fraction of the cost, Charles River handles the overall hosting and management of the Charles River IMS application, FIX administration and connectivity issues, and provides infrastructure strategically tailored to clients’ individual businesses. We help clients free up valuable internal resources; giving them the flexibility to support new business initiatives to manage for growth.”
Charles River’s Managed Services helps clients mitigate operational risk by providing off-hour support, management of application integration, disaster recovery planning and system expertise. Hosting of Charles River IMS is supported by four highly-secure, SAS70 Type 1- and II-certified data hosting centers in the US and UK, owned and managed by Rackspace. Charles River’s standard hosting model provides each client with a dedicated instance of Charles River IMS on a shared virtualized hosting infrastructure, with 24x7x365 global system expertise and support.
Folketrygdfondet manages the Government Pension Fund Norway and the Government Bond Fund on behalf of The Norwegian Ministry of Finance. Folketrygdfondet is a long-term asset manager assigned the duty of achieving the best possible returns on the capital within the management limits. Capital can be invested in shares listed on regulated markets in Norway, Denmark, Finland and Sweden, and in fixed income instruments where the issuer is domiciled in these countries.
About Charles River Development
Charles River Development provides software, hosting and data services to automate front- and middle-office investment operations for buy-side firms. On-premises software and SaaS solutions support portfolio management, compliance and risk monitoring, order and execution management, and access to global liquidity. The company has more than 300 clients in 38 countries in the institutional asset and fund management, alternative, wealth management, insurance, banking, pension and custody markets.