Sydney
09 August 2012
Reporter: Georgina Lavers
Securities Lending default image

Fund manager Ausbil Dexia links with Calastone


Equity specialist fund manager Ausbil Dexia has signed an agreement to commence transacting managed funds over the Calastone Transaction Network.

Calastone joint founder, Kevin Lee, said the move represented a big opportunity for other fund managers, as Ausbil outsources its registry to one of Australia’s biggest asset servicing companies.

"Ausbil has shown real leadership in insisting its registry provider connect to Calastone, paving the way for others to follow its lead," he said.

"Since we launched in January, the leaders of the Australian managed fund industry have been very proactive in embracing the benefits of automation – benefits that have been enjoyed by other industries, such as securities markets, for decades.

"Connecting a member of one of the country’s biggest registry providers is a great step forward for automation in the fund management industry."

Lee says in terms of electronic transactions, Australia had been lagging its global counterparts in the fund management industry, but had recently begun to embrace the global automation trend.

"Calastone – and fund automation generally – has been established internationally for many years, offering its users risk management and operational control benefits, as well as significant reductions in processing costs. I’m pleased to see the Australian market rising to meet international benchmarks." Mark Reilly, Ausbil’s COO, added that the firm had been aggressive in pursuing connection to Calastone and the benefits it brings to investors. "We’re very interested in new technologies that can improve the ways we do business," he said. "Any improvements we can make will ultimately provide our investors with a better experience. Implementing Calastone technology provides straight-through processing capability and order certainty for platform providers as well as de-risking unit registry operations.. Calastone plans to launch further services for managed funds in Australia later this year.

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Harnessing data can keep securities secure
18 October 2017 | Toronto | Reporter: Stephanie Palmer
Securities transactions are just as susceptible to cybercrime as payments, and proper use, and protection, of data is key to managing that risk, Sibos attendees have heard
Banks cautiously optimistic about impact of tech
18 October 2017 | Toronto | Reporter: Theo Andrew
According to the BNY Mellon research, Rethinking the Client Payment Experience, security and reliability are viewed as instrumental in creating the ideal payment experience
BNY Mellon and HSBC sign up to Algomi’s Honeycomb
18 October 2018 | New York | Reporter: Jenna Lomax
The collaboration is expected to bolster fixed income market liquidity by giving both BNY Mellon and HSBC clients the ability to make select holdings information available anonymously through the new solution
Broadridge completes blockchain bilateral repo pilot
18 October 2016 | New York | Reporter: Theo Andrew
The pilot, conducted in partnership with Natixis and Societe Generale, utilises distributed ledger technology in order to make complex processes “more secure, transparent and efficient”
Industry torn on which city will replace London as post-Brexit financial hub
17 October 2017 | Toronto | Reporter: Stephanie Palmer
Frankfurt is set to displace London as a global financial centre after Brexit, according to an audience poll at Sibos 2017, however the session’s panellists were not convinced by the results
Quick response times key to managing reputational risk
17 October 2017 | Toronto | Reporter: Stephanie Palmer-Derrien
Reputational risk should be taken as seriously as any other type of risk, and measured, organisation-wide, and well-planned responses are key to minimising it, heard panel attendees at Sibos 2017
NEX partners with Baton Systems
17 October 2017 | London | Reporter: Jenna Lomax
The agreement means Baton Systems will be the first third party to provide its clients with services through NEX’s Infinity solution
More news