Premier Asset Management connects to Calastone for funds distribution
NEWS | 02 December 2008
Calastone Limited, the independent cross-border transaction network for the mutual funds industry, announced today that fund provider Premier Asset Management has signed an agreement to offer its funds via Calastone.
By connecting to Calastone’s transaction network, Premier Asset Management will benefit from fully electronic STP throughout the transaction lifecycle, whatever their preferred messaging protocol. They will gain electronic connectivity to fund distributors and aggregators through a single connection and orders will be sent electronically via Calastone, which provides a universal message communication and ‘translation’ service. By connecting to Calastone, fund providers are able to lower costs, reduce the risk of trading, and gain visibility and control of their order flow. Through Calastone, all parties will be able to react to exceptions quickly and efficiently.
Commenting on the agreement, Kevin Lee, Managing Director of Calastone said, "We are delighted that Premier will be making their funds available via Calastone. Premier is now able to easily manage its transactions on a real-time basis using our Execution Management System, without any investment in membership fees or new technology. As Calastone continues to grow, Premier will benefit by receiving orders electronically from a growing number of distributors and aggregators.
Mark Friend, Managing Director, Operations of Premier Asset Management, added, "We are pleased to offer our funds via Calastone and look forward to benefiting from its efficient network which will help us reduce cost and manage risk. With their low cost model and its easy connection, we are confident that Calastone will continue to attract an increasing number of fund distributors and transfer agents and become the mutual fund community for transactions processing."