Following the acquisition of Prima SGR, Italian Banca Popolare di Milano’s asset management firm Anima SGR, has chosen the Charles River Investment Management System (IMS) to help support its needs once the merger of the two firms takes effect 1 January 2012.
The IMS will allow the firm to run compliance at any point during the trade cycle and provide a complete audit trail to satisfy the regulatory requirements of the Bank of Italy and the Italian Securities Exchange Commission. As part of the upgrade, 30 new users will be added in Milan and the firm’s offshore office in Dublin.
Anima said it selected the Charles River IMS because of its ability to support equities, fixed income, Organismi di Investimento Collettivo del Risparmio (OICR), equity index futures, bond futures and portfolio swap instruments, as well as total return swaps (TRS), index options, equity options, bond options, currency options, over the counter options and hedge funds.
“Charles River IMS provides Anima with a single enterprise solution for portfolio management, trading and compliance as it adds new asset types, grows its number of users and portfolios and is expected to meet increasingly complex regulatory requirements,” said Roberto Panzeri, CIO, Anima.
Anima claims the new merged entity will be the largest independent asset manager in Italy. The firm currently has over €40 billion assets under management and more than 110 mutual funds.
Charles River Development provides software, hosting and data services that are designed to automate front and middle office investment operations for buy-side firms. The company has 300 clients in 38 countries. The firm was also selected for its IMS by Scottish investment trust Alliance Trust, in August 2011.