Colfondos Selects Charles River to Scale for Growth

March 24, 2021 9:00 AM EDT

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BOSTON--(BUSINESS WIRE)-- Charles River Development, a State Street company, today announced that Colfondos S.A. Pensiones y Cesantías (Colfondos), one of Colombia’s largest pension funds, has selected the cloud-based Charles River Investment Management Solution (Charles River IMS) to manage their domestic and global equity and fixed income portfolios on a consolidated front and middle office platform.

Charles River enables Colfondos to meet the bespoke demands of their investment process and automate support across asset classes for the geographies they invest in. Colfondos will be able to enter new markets in Chile and Peru at enterprise scale, leveraging Charles River’s open architecture platform and interoperability with an ecosystem of liquidity, data and regulatory reporting providers.

“Charles River’s scalability and ability to handle Latin America workflows and asset classes enables us to automate processes and grow assets and accounts under management,” said Andrés Lozano, Chief Investment Officer, Colfondos. “Charles River’s local support teams and expertise in Latin America markets was key to our decision to adopt their platform.”

“For over 20 years, Charles River has maintained a strong presence in Latin America supporting our growing client base,” said Matt Daly, Managing Director, Charles River Development. “Our SaaS-deployed platform, built on Microsoft Azure, enables firms to expand their regional footprint, service new asset classes and address regulatory data residency requirements.”

Investment managers, pensions, private banks, wealth managers and insurance companies in Brazil, Chile, Mexico, Colombia and Panama currently manage over USD$350 billion on Charles River IMS.

About Colfondos
Colfondos S.A. Pensiones y Cesantias operates as a pension fund manager. The Company manages pension and investment funds with total AUM´s of USD 13.2 BN and has close to 3 mm clients. Colfondos is the third largest private pension fund in Colombia.

About Charles River, A State Street Company
Investment firms, asset owners, wealth managers, hedge funds and insurers in more than 30 countries rely on Charles River’s front and middle office investment management platform to manage more than US$30 Trillion in assets. Together with State Street’s middle and back office capabilities, Charles River’s cloud-deployed software technology forms the foundation of State Street Alpha℠. The Charles River Investment Management Solution (Charles River IMS) is designed to automate and simplify the institutional 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 growing partner ecosystem enables clients to seamlessly access external data and analytics, applications and liquidity venues that support the unique demands of their product and asset class mix. Headquartered in Burlington, Massachusetts, we serve clients globally with more than 1,000 employees in 11 regional offices. (Statistics as of as of February 2021)

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 $38.8 trillion in assets under custody and/or administration and $3.5 trillion* in assets under management as of December 31, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of December 31, 2020 includes approximately $75 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.

© 2021 State Street Corporation - All Rights Reserved
State Street Corporation, One Lincoln St, Boston MA 02111

3490586.1.1.GBL.

Disclaimer:

Charles River Development - A State Street Company is a wholly owned business of State Street Corporation (incorporated in Massachusetts).

This document and information herein (together, the “Content”) is subject to change without notice based on market and other conditions and may not reflect the views of State Street Corporation and its subsidiaries and affiliates (“State Street”). The Content is provided only for general informational, illustrative, and/or marketing purposes, or in connection with exploratory conversations; it does not take into account any client or prospects particular investment or other financial objectives or strategies, nor any client’s legal, regulatory, tax or accounting status, nor does it purport to be comprehensive or intended to replace the exercise of a client or prospects own careful independent review regarding any corresponding investment or other financial decision. The Content does not constitute investment research or legal, regulatory, investment, tax or accounting advice and is not an offer or solicitation to buy or sell securities or any other product, nor is it intended to constitute any binding contractual arrangement or commitment by State Street of any kind. The Content provided was prepared and obtained from sources believed to be reliable at the time of preparation, however it is provided “as-is” and State Street makes no guarantee, representation, or warranty of any kind including, without limitation, as to its accuracy, suitability, timeliness, merchantability, fitness for a particular purpose, non-infringement of third-party rights, or otherwise. State Street disclaims all liability, whether arising in contract, tort or otherwise, for any claims, losses, liabilities, damages (including direct, indirect, special or consequential), expenses or costs arising from or connected with the Content. The Content is not intended for retail clients or for distribution to, and may not be relied upon by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation. The Content provided may contain certain statements that could be deemed forward-looking statements; any such statements or forecasted information are not guarantees or reliable indicators for future performance and actual results or developments may differ materially from those depicted or projected. Past performance is no guarantee of future results. No permission is granted to reprint, sell, copy, distribute, or modify the Content in any form or by any means without the prior written consent of State Street.

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©2021 STATE STREET CORPORATION

Mary Masi-Phelps
marymasiphelps@crd.com
781-425-6155

Source: Charles River Development, a State Street Company



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