Scotiabank Mexico, a subsidiary of Canadian banking group Scotiabank, has implemented the Charles River Investment Management System (IMS) across its Scotia Fondos fund administration subsidiary.
The adoption of the IMS is part of Scotia Fondos' initiative to automate its domestic and international mutual fund (Fondos de Inversion) operations with 16 different portfolio options on a single, consolidated platform.
Users will be able to benefit from decision making and analysis tools, automated portfolio management, and real time pre-trade compliance monitoring for all asset classes including equities, money market, mutual funds and Mexican corporate and government fixed income instruments.
During the initial project, Charles River automated Scotia Fondos' equity portfolio management and trading operations, as well as compliance monitoring. The second phase consolidated capabilities across the firm's fixed income operations.
“Our portfolio managers can now stay ahead of the market by analysing and rapidly implementing changes to their portfolios,” said Ernesto Diaz, director general, Scotia Fondos. “We can also validate that our portfolios comply with all mandates – at any time and for any asset class.”
Charles River supports five client firms in Mexico, and serves over a dozen firms across Brazil, Chile and Panama. The firm also connected US-based asset management firm C.S. McKee to its IMS in September 2010.