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September 25, 2008

Waddell & Reed selects Charles River IMS

Waddell & Reed Investment Management Company and its affiliates have selected financial software provider Charles River Development's Investment Management System, Charles River IMS, to provide a new portfolio management system, including for its equity, fixed income and foreign exchange operations.

By CBR Staff Writer

According to Charles River, Waddell & Reed will benefit from extensive portfolio management tools, streamlined trade order management and real-time compliance testing and monitoring on a single integrated platform. The firm will leverage the expertise and best practices experience of the company’s Remote Application Management service (Charles River RAM).

Charles River RAM provides management, administration and enhanced 24×7-support of Charles River Investment Management System, including pro-active software-agent based monitoring, alert notification, application performance monitoring and tuning and user administration.

Larry Cipolla, senior vice president and chief operations officer of Waddell & Reed Investment Management and Ivy Investment Management Company, said: As our company has grown, and with investment instruments now more complex than ever, we’ve realized a need for a more integrated portfolio management platform. Charles River offered the right system at the right time to match up with our ongoing needs.

Tom Driscoll, vice president of sales and marketing at Charles River Development, said: Charles River IMS was designed from inception as a centralized platform to support all asset classes. We expect the system to support Waddell & Reed’s continued growth.

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