Charles River takes aim at possible Islamic fund managers

Charles River Development has announced that its flagship Investment Management System can ensure compliance for sharia-based portfolios. The vendor claims that the world's largest managers of ethically-based funds use Charles River to manage their investments. It is now looking to gather clients in the Islamic finance industry, which has assets estimated at more than $750 billion. The vendor's system allows clients to create and adjust restrictions across multiple portfolios in real-time.