Thailand’s Government Pension Fund modernizes operations with Charles River IMS

Charles River Development, a subsidiary of State Street company, has made a significant announcement that Thailand’s Government Pension Fund (GPF), one of the largest pension funds in Thailand with over 1.2 million members, is implementing the Charles River Investment Management Solution (Charles River IMS). This move aims to modernize GPF’s front-office operations and comprehensively manage its domestic and international equity, fixed income, and multi-asset portfolios.

Leveraging the capabilities of Charles River IMS, GPF will introduce an automated workflow for straight-through processing across its front and middle office. This will cover a broad range of functionalities including portfolio construction, performance attribution, order management, and both pre- and post-trade compliance. Moreover, the platform will offer near real-time insights into cash, positions, and available collateral, along with delivering benchmark data, thus maximizing operational efficiency.

Dr. Srikanya Yathip, Secretary General of GPF, stressed the importance of evolving investment schemes and increasingly complex asset diversities. “Choosing Charles River IMS as a unified platform will drive efficiencies, foster teamwork, and grow our business while better serving our extensive member base,” said Dr. Yathip. The move highlights the urgency for pension funds like GPF to adopt platforms that support efficient and effective investment decisions.

Dennis Baillon, Director of Business Development, APAC, at Charles River Development, emphasized the firm’s extensive experience in the APAC region. “Our platform enables organizations like GPF to consolidate their operating models, offering flexibility in combining our technology and services to support growth through diversifying into new strategies, asset classes, or geographies,” Baillon noted.

State Street, the parent company of Charles River Development, has a robust history of servicing institutional investors in Thailand for over 25 years. In addition to Charles River IMS, State Street offers an array of services ranging from custody, investment management, and foreign exchange, to securities finance, performance, risk, and ESG analytics. Kevin Hardy, Head of Southeast Asia for State Street, expressed enthusiasm about the partnership. “Thailand is an exciting growth market for State Street, and we are committed to delivering service excellence to institutional investors in the country,” said Hardy.

This collaboration between Charles River Development and GPF signifies a monumental step in Thailand’s pension fund management, aiming to elevate operational efficiencies and streamline complex multi-asset portfolio management for over 1.2 million members.