Calastone Limited announced today that Invesco Perpetual has signed an agreement to make its funds available via the global Calastone transaction network.
By connecting to Calastone, a cross-border transaction network for the mutual funds industry, providers are able to offer their open architecture funds to a variety of investors irrespective of domicile or preferred messaging protocol.
Commenting on the agreement, Kevin Lee, Managing Director of Calastone said, We welcome Invesco Perpetual, the latest in a growing number of fund providers enjoying lower costs, increased global reach and full STP. Firms are clearly appreciating that irrespective of their current preferred protocol or messaging format, they immediately future proof their technology by becoming ISO 20022 compliant, reaping the benefits of STP and business process automation by connecting to Calastone. For every fund provider, distribution is key and Calastone not only offers access to a growing community of domestic distributors, wrap platforms and stockbrokers, but also to an ever lengthening list of international counterparties with which to transact their open architecture funds.
Mike Morecroft, Head of European Transfer Agency at Invesco Perpetual added, We are pleased to be connecting to Calastones transaction network. Doing so is consistent with our commitment to continue to drive automation within the funds industry to help lower costs and reduce risk for both ourselves and our clients.