Euroclear UK and Ireland has onboarded UK independent fund administrator Smith & Williamson Fund Administration (SWFAL) for its automated fund services offering.
Euroclear’s investment fund services offering provides end-to-end automation for order placement, settlement and asset services.
Through the service, SWFAL will look to benefit from clearer visibility of their settlement obligations and to manage their cash flows in a more efficient way.
The Smith & Williamson group is one of the largest independently-owned investment managers in the UK, as well as being the eight largest accounting firm.
SWFAL’s assets under administration has grown from £5 billion in 2015 to nearly £13 billion as of September this year.
“This is a great step forward for us as we look to provide new and alternative automated routes, for investors to trade and settle SWFAL funds. We are delighted to partner with EUI in this venture and see this as a major milestone in the growth potential and service offering of our business,” said Brian McLean, director, SWFAL.