Clearstream opens up Korean market 02 February 2015Seoul Reporter: Stephanie Palmer
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Clearstream has launched an investment fund cooperation with Korea Securities Depositories (KSD), linking KSD’s Fundnet platform with Clearstream’s global fund processing platform, Vestima.
The cooperation intends to expand both direct and indirect cross-border fund distribution, and open up the South Korean markets for offshore funds. It also strengthens Clearstream’s investment fund strategy in Asia.
Jaehoon Yoo, chairman and CEO of KSD, said: “The partnership with Clearstream significantly enhances our cross-border investment fund distribution capabilities.”
“In response to the diverse investment needs of customers, we decided to establish a link with Vestima, the largest global fund processing platform. This partnership also provides our domestic Korean asset management industry with lower costs and higher efficiency.”
Philippe Seyll, member of the executive board of Clearstream and head of investment fund services, said: “We are pleased about the new link to KSD and the Korean investment fund market. Korea is a major domicile for investment funds in Asia, where markets are continuing to open up to offshore funds.”
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