BMO Global Asset Management, a global fund manager with assets under management of US$280 billion, has said it is acquiring the Charles River ‘Investment Management Solution’ product for its Hong Kong and London operations.
The cloud-based service will be implemented at both BMO Global Asset Management (Asia) Limited and LGM Investments.
The latter is one of BMO Global Asset Management’s subsidiaries that specialises in equity investments in Asia, global emerging and frontier markets. LGM has assets under management of US$2.8 billion.
The Charles River product automates front- and middle-office investment management functions across asset classes on a single platform.
Both asset managers plan to use the service for portfolio management, trading, compliance, and post-trade processing across equity, fixed income, and exchange-traded fund operations.
They will also make use of Charles River’s broker-neutral FIX network.