Belgium-based financial group KBC has joined Clearstream’s Fund Centre, as it looks to consolidate all its distribution support-related activities with Clearstream.
Having already been a long-term user of Clearstream’s Vestima fund processing platform, KBC will now expand its relationship to cover the full range of services around distribution support and commission management.
By using Clearstream Fund Centre, KBC will benefit from reduced internal costs associated with the collection of trailer fees, as well as optimised effective payment.
The Centre provides a full range of fund distribution support services built on the expertise and global network of asset managers.
In addition, fund distributors and asset managers are supported by the platform for compliance-based KYD processes and to comply with regulatory challenges around fund distribution, such as MiFID II in the EU.
“Implementing a one-stop shop by using Clearstream Fund Centre creates strong financial benefits through higher net trailer fees and operational benefits through timely and predictable trailer fee payments,” said Olivier De Bruyn, head of network management at KBC.
“Moreover, the overall new fee schedule regarding third-party fund processing is a real plus and demonstrates the benefits of the one-stop shop concept. Given the increase in operational efficiency, the improvement of scalability and the financial advantages, it was a no-brainer decision to change to Clearstream as our new provider regarding trailer fee processing.”