Calastone Limited, the independent cross-border transaction network for the mutual funds industry, announced today that Aviva Investors, the global asset management business, has signed an agreement to make its UK domiciled retail funds available via the global Calastone transaction network.
Aviva Investors will benefit from connectivity to Calastone’s rapidly expanding list of global fund distributors and aggregators through a single connection, reaping immediate advantages in cross-border trading access to distributors and aggregators. All Calastone participants enjoy straight through processing regardless of their size or technology capabilities and are able to track exceptions on a real-time basis, enabling them to react.
Aviva Investors’ third party administrator, IFDS (International Financial Data Services) is connected to Calastone and, as a consequence, Aviva Investors can take advantage of STP efficiencies through automation of the entire mutual fund transaction lifecycle including settlement and business flow process automation.
Commenting on the agreement, Kevin Lee, Managing Director of Calastone said, “We welcome Aviva Investors, to our fast growing mutual fund community. Firms are clearly appreciating that irrespective of their current preferred protocol or messaging format, they immediately future proof their technology by connecting to Calastone and, become instantly ISO 20022 compliant reaping the benefits of STP. Distribution is critical for every fund provider; 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.”
John Clougherty, Chief Executive of Aviva Investors UK Fund Services Limited added, “At Aviva Investors we are committed to providing our clients with focused investment solutions and are pleased to now offer our clients access to the global Calastone network. We have noticed that Calastone’s transaction network continues to attract an increasing number of fund distributors and transfer agents and this is a positive step towards increased efficiency for the global funds industry.”
Julia Streets / Abby Munson
Streets Consulting
+44 (0)20 7959 2235
