Euroclear UK & Ireland attracts more fund managers
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Euroclear UK & Ireland attracts more fund managers 20 September 2013London Reporter: Jenna Jones
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F&C Investments, Liontrust Fund Partners and Old Mutual Global Investors have signed up to Euroclear UK and Ireland’s investment fund service.
John Trundle, CEO of Euroclear UK and Ireland, said: “We are seeing growing momentum in the UK fund community to reduce the risks and costs associated with fund transaction processing. The combination of automated order routing services fully integrated
with delivery-versus-payment settlement, offers Euroclear UK & Ireland’s clients a unique and effective means to achieve these objectives.”
Gary O’Brien, head of client services at Old Mutual Global Investors, said: “We expect to see real improvement in our transaction settlement, cash and fund unit balance reconciliations, re-registrations and portfolio transfers as a result of the electronic and automated features of Euroclear UK and Ireland’s investment fund service.”
Andy Olding, head of group fund services at F&C Investments, commented: “Reducing risk and increasing cost efficiency for our clients is crucial for F&C. We look forward to the benefits that a fully automated, end-to-end transaction flow will bring to F&C by using Euroclear UK and Ireland’s investment fund service.”
Jeff Digweed, head of transfer agency at Liontrust Fund Partners, added: “Migrating to the Euroclear UK and Ireland settlement service has been achieved quickly and efficiently. The teams involved, including IFDS, RBS and Euroclear all worked well together and we were ready to test and process our first transactions in record time.”
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