Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment management community, today announced that Dreman Value Management, LLC (Dreman), a pioneer in contrarian value investing with $18.5 billion of assets under management, is live on the Charles River Investment Management System (Charles River IMS) for automated portfolio management, trading and compliance of its equity investing and fund portfolio operations. Dreman users are also live on the Charles River Network for real-time electronic trading via FIX (Financial Information eXchange). and services to the global investment management community, today announced that Dreman Value Management, LLC (Dreman), a pioneer in contrarian value investing with $18.5 billion of assets under management, is live on the Charles River Investment Management System (Charles River IMS) for automated portfolio management, trading and compliance of its equity investing and fund portfolio operations. Dreman users are also live on the Charles River Network for real-time electronic trading via FIX (Financial Information eXchange).
The project was managed by Dreman’s Chief Technology Officer, Bill Donnelly, and delivered on-time and on-budget. This project completes Phase One of a larger Dreman initiative to incorporate the full spectrum of investment accounts, including its wrap accounts, onto the Charles River IMS Platform. In addition, Charles River customized the Charles River IMS post-trade engine and created seamless interfaces with third-party providers.
“Dreman Value Management is poised for growth – we have been making the right investments to expand and grow the firm to meet our strategic goals,” said David Dreman, Chairman and Chief Investment Officer, Dreman Value Management. “Being a Value Manager, we run a very lean shop. Technology must return value to clients and prepare us for the future. We now have that in place to take the firm to the next level of success.”
“Technology is an enabler for our business, and we wanted to have the technical infrastructure that would allow us to scale and automate,” said Boris Onefater, Chief Executive/Operating Officer, Dreman Value Management. “We conducted a very thorough search and Charles River consistently won high marks for its products. Their implementation services – including their on-site experts who understood both our business and our operational needs – exceeded our expectations. We’ve been very pleased with the results; for example, our traders have highlighted Charles River’s FIX capabilities, especially the time-saving automatic allocations, as a key benefit.”
“From the start, the entire Dreman team was very clear about how this project would help their growth strategy,” said Tom Driscoll, Vice President, Sales and Marketing, Charles River Development. “They now benefit from a multi-asset class system that is proven around the world.”
“Compliance is critical to our business and the Charles River system integrates the compliance workflow with our modeling and order management operations. Compliance is now everyone’s business – including portfolio managers and traders, as well as compliance and operations personnel,” said Onefater. “Our clients who are familiar with Charles River IMS tell us that Dreman now has a system that is commensurate with its reputation.”
About Dreman Value Management, LLC
Dreman Value Management is one of the pioneers of contrarian-value investing, an investment philosophy based on a disciplined approach of selecting stocks with a low price-to-earnings ratio. The company invests in undervalued companies that exhibit strong fundamentals, above-market dividend yields and historic earnings growth, managing $18.5 billion in assets for a wide variety of institutional, sub-advisory, separately managed and high-net-worth clients. For more information visit: www.dreman.com.
About Charles River Development
Charles River Development is an award-winning provider of innovative technology systems and services to more than 275 investment firms in the institutional, mutual fund, banking, hedge fund, wealth management, insurance and pension industries. The Charles River Investment Management System is a comprehensive front- and middle-office software suited for all security types that includes Charles River Manager for portfolio management and modeling; Charles River Trader for order management and electronic trading; Charles River Compliance for real-time pre-trade and end-of-day compliance; and Charles River Post-Trade for the centralized management of trade matching, confirmation, and settlement workflow. The system incorporates global real-time electronic trading via FIX (financial information eXchange) through the Charles River Network, a reliable, secure private financial network.
Charles River IMS features a modern, proven, N-Tier service oriented architecture (SOA) that is highly scalable and supports continuous 24x7 operations. Message-based APIs and exposed Web Services facilitate rapid systems integration.
The company also offers implementation and managed services (hosted and remote application management) to complement its software. Founded in 1984, Charles River maintains headquarters in Boston and primary offices in London, Melbourne, New York, Paris, Singapore and Tokyo.