Euroclear Sweden Adds Cross-Border Fund Processing Capability

Euroclear Sweden has launched a link to Euroclear Bank’s FundSettle, an automated processing platform for cross-border and domestic funds, which gives Swedish investment firms access to over 80,000 foreign funds from over 25 markets via Euroclear Sweden.
By Jake Safane(2147484770)
Euroclear Sweden has launched a link to Euroclear Bank’s FundSettle, an automated processing platform for cross-border and domestic funds, which gives Swedish investment firms access to over 80,000 foreign funds from over 25 markets via Euroclear Sweden.

FundSettle will link Swedish distributors, cross-border fund management companies and transfer agents through order routing on a straight-through processing basis. Later this year, Euroclear plans to allow Swedish funds to distribute to non-Swedish investors through the platform.

“Greater fund processing efficiency is an area where our infrastructure role is adding value by slashing back-office processing costs and risks through automation and standardization,” says Anders Löfgren, head of product management at Euroclear Sweden. “The Swedish fund market enjoyed a phenomenal 2013 in terms of net inflows, up SEK 430 billion (€484 million) on the previous year, according to Fondbolagens Föreningen (Swedish Investment Fund Association). This strong trend of fund buying has continued into 2014, and spurred Euroclear to further strengthen its operational support to the Swedish investment industry by expanding the scope of possibilities and diversification opportunities to all relevant parties.”

“We welcome this initiative as we strongly believe that we will continue to be able to deliver our funds to this important Nordic market, via a proven, safe and efficient distribution network,” says Paul Brady, director at Franklin Templeton Investments.

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