Retail Employees Superannuation Trust (Rest), one of Australia’s largest industry superannuation funds, has mandated State Street to streamline its front and middle office operations for managing assets.

Rest, which has approximately 1.8 million members and US$60 billion in funds under management, will use Charles River, a State Street company, to support and deliver a transparent view and workflow across its business, including portfolio construction, decision support, risk, collateral management, order management and compliance.

The cloud-based Charles River Investment Management Solution will support Rest’s internally managed investments as well as “whole-of-fund” requirements.

“The platform’s flexibility and scalability will enable us to automate processes and achieve efficiencies at this time as we build a global best-practice internal investment capability. Combining internal and external investment management in one desktop system will allow us to focus real-time on achieving strong long-term returns for our members,” says Rest chief investment officer Andrew Lill.

State Street currently provides Rest with custodial services as well as the data management solution State Street Alpha Data Services.