Clearstream expands Vestima offering 25 March 2019Luxembourg Reporter: Maddie Saghir
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Clearstream has expanded its Vestima offering in Northern Europe by making Finland domiciled investment funds eligible for order routing, settlement, and custody.
International customers can use their Vestima setup to directly access Finland-domiciled funds and benefit from the same streamlined handling as for other markets.
According to Clearstream, one of the key drivers for adding Finland is international customer demand to fully cover the Nordic investment fund markets.
In addition, Finland is a solid fund market with assets under management, which reached €110 billion at the end of 2018.
Evli Fund Management Company is the first Finnish asset manager to have successfully on-boarded its mutual funds to the Vestima platform and has extended its distribution network.
Kim Pessala, managing director at Evli Fund Management Company, commented: “Evli has distributed selected UCITS funds to Central European investors for some years already, but with the eligibility on Vestima our reach expands into new spheres for Finland domiciled funds.”
“International investors will not only gain access to Evli’s mutual funds, but they will also benefit from the Nordic investment knowledge of the entire Finnish fund industry.”
Bernard Tancré, executive director and head of investment fund services at Clearstream, stated: “We welcome Finland as new fund market covered by Clearstream and the eligibility of Finland-domiciled funds in Vestima which is a further step in extending our reach in the Nordics.”
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