Clearstream has gone live with its Australian investment fund services operations after closing its acquisition for Ausmaq from National Bank of Australia (NAB).
The addition of the Sydney-based managed funds custodian allows Clearstream to enter the domestic Australian fund markets and directly serve Australian clients within the same region and time zone.
Australia ranks as the number one fund market in Asia-Pacific, and number four globally in assets under management (AuM) currently valued at €2 trillion.
Customers of Ausmaq will benefit from gaining access to international and alternative funds, via Clearstream’s global fund network.
“This will provide Ausmaq’s existing and future domestic customers with a broader suite of investment opportunities and likewise provide Clearstream’s customers with direct access to the thriving Australian managed funds market,” Ravi Subramaniam, CEO, Ausmaq.
Clearstream is also aiming to connect international and Australian market participants through its fully automated fund processing platform, Vestima, by 2020.
“By integrating our Vestima offering and Ausmaq’s services, we will be able to provide Australian custodian banks, wrap platforms and wealth managers with our proven international services,” said Bernard Tancré, head of investment fund services, Clearstream.