Exception-based workflows
Bloomberg AIM vs Charles River
Bloomberg AIM and Charles River Development (CRD) are two systems investment managers use. But how do they differ? Are they even comparable in scope? Which one is right for your firm? To help you answer there questions we start with a comparison of some Investment Management Capabilities of Bloomberg AIM and CRD IMS. We'll also explore why managers also consider Limina as a third option.
Note: Vendor information publicly available as of July 4th, 2025 is the only source of information for writing this article. Sources include company websites, review sites (G2, Gartner, TrustRadius and Capterra) and industry publications.
A modern alternative
Why clients opt for Limina
More automation
98% of asset managers globally (regardless of system) haven't automated as much as they'd like. That number for Limina clients is below 10%.
Fast upgrade & change management
Managed upgrades that adhere to highest governance requirements of large managers. Become nimble through quick release cycles and self-service features.
A system users love
4.9/5 rating by end users. Slick workflows for Front Office and Exception-based workflows for Operations.
What clients are saying
By adopting Limina's scalable platform, Avanza has launched 33% additional funds without having to scale its investment operations team. They achieved:
- Decreased dependency on single individuals - by replacing spreadsheets
- Improved operational efficiency - by increased automation
Genesis moved to Limina and achieved the benefits of a cloud-native environment (keeping governance & oversight intact):
- Lower IT costs
- Simpler BCP processes
- More efficient operations
Modern user experience
- Cloud-native:
- Full-feature access from browser and tablet
- Native mobile app - Slick & efficient workflows
All workflows & assets in one system
All the workflows you need - combined in one solution with powerful automation capabilities & built-in data controls.
All asset classes supported, including funds, alternatives, FX (and everything else)
Easily connect to terminal & external service providers
- Native integration with most applications in your terminal
- Easily build, schedule and maintain your own custom integrations in minutes to anywhere: custodians, internal tools, data warehouses, admins, and more
Self-service
Don't be held back by waiting for your vendor. Take control and get empowered to configure by yourself in minutes:
- Integrations & connectivity
- Compliance rules
- Custom classifications (e.g. ESG and risk classifications on securities
Lower Total Cost of Ownership (TCO)
Efficient upgrades, integrations & changes save you money
Minimally low, thanks to automation of connectivity, no IT overhead and frequent access to new functionality.
Any questions?
Check out the answers to some of the most frequently asked questions about Limina IMS!
- 01 Customisation
- 02 Automation
- 03 Connectivity
- 04 External managers
- 05 Who they serve
- 06 Making the choice
Ability to customise the system
Charles River IMS has historically been known for its strong customisation capabilities, allowing clients to tailor workflows and processes. However, with the move to an enterprise Software-as-a-Service (SaaS) offering, it's uncertain how much flexibility will remain.
Bloomberg AIM is reported to be less strong on customisation. It is embedded in the Bloomberg Terminal and “it is what it is.”
Exception-based workflows
Exception-based workflows, where tasks run automatically and only alert users when something goes wrong are critical for efficiency. There aren't any online sources that clearly confirm whether AIM or CRD fully support them.
At Limina, we measure the time it takes to perform workflows in the system. We then try to minimise that time. The more efficient workflow we enable, the less time users spend on the platform.
Integrations to Other Systems
Charles River IMS is open to external integrations, such as connecting with custodians. They prefer their system to be used as the execution management systems according to online sources.
Bloomberg AIM however, encourages clients to remain within the Bloomberg ecosystem, making external integrations harder.
Since 2023, there's a new approach to connectivity available. It makes integrations faster to build, cheaper to maintain and more stable than ever before. Limina takes this approach and also connects to most brokers globally.
Enabling external portfolio managers
An external manager can be a manager for entire funds (e.g. as Avanza is doing) or for sub-portfolios (sleeves) of funds.
For cases such as these, central operational control is crucial. External managers should be limited to their own portfolios, without access to compliance settings or the full security master.
Bloomberg's setup with AIM enabled within terminals struggles to support this model. Whereas Charles River and Limina can support this effectively.
Vendor Profiles and Market Position
Charles River Development (CRD)
- Serves around 315 clients with an average AuM of $187bn.
- Owned by State Street since 2018 and bundled into the State Street Alpha offering, which combines front, middle, and back office services.
- Well-suited for large, complex institutions needing scale and advanced functionality.
Bloomberg AIM
- Used by about 900 clients, with an average AuM of $24bn.
- Fully integrated into the Bloomberg Terminal, reusing market data and unlocking additional functionality within existing screens.
- Requires all users to have a Bloomberg Terminal, which increases costs and limits access flexibility.
- Introduced PMGO in 2023 as a portfolio rebalancing tool, connecting AIM with other Bloomberg apps such as PORT.
- Typically better aligned with small to mid-sized asset managers who are already deeply embedded in Bloomberg’s ecosystem.
Which IMS Is Right for You?
So where does that leave you? At the end of the day, the best Investment Management System (IMS) between these two vendors isn’t about ticking feature boxes. It’s about finding a platform that matches your businesses size, way of working, and long-term strategy.
Charles River IMS
For larger, more complex institutions that require deep customisation, broad integrations and scalability often choose CRD especially those operating multi-manager or sleeve-managed structures. It’s a big-institution system for big-institution needs, so if you value having a front-to-mid (or front-to-back with State Street Alpha) solution from a heavyweight, CRD often feels like the natural choice.
Bloomberg AIM
For smaller and mid-sized firms, or those already embedded in the Bloomberg ecosystem, you may find AIM a better fit. Its strength lies in simplicity and seamless access to Bloomberg data, and whilst this makes it convenient, it also means you’re playing by Bloomberg’s rules.
Limina (Modern Alternative)
Then there’s Limina. Built by former investment managers, it’s designed for teams who want efficiency without the baggage of legacy platforms. Limina puts the focus on speed, flexibility, and cutting down the time you spend wrestling with systems. And because we believe in being transparent, we’ll also tell you straight up when Limina isn’t the right fit and when it could be the best choice for your firm.
In short:
- Pick CRD if scale and bundled services matter most.
- Pick AIM if you’re already embedded in Bloomberg and want tight integration.
- Pick Limina if you’re looking for a modern, efficient alternative that helps you do more with less.