Waddell & Reed Selects Charles River Development to Provide New Portfolio Management System for all Asset Classes

Waddell & Reed Investment Management Company and its affiliates, which have $70 billion in assets under management, have selected the Charles River Investment Management System (Charles River IMS) to provide a new portfolio management system for its equity, fixed income and foreign exchange operations. 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. Charles River Development is a provider of financial software and services to the global investment management community. Through its subsidiaries, Waddell & Reed provides investment management and financial planning services to clients throughout the United States.