Singapore
05 February 2014
Reporter: Georgina Lavers

Calastone builds on Asia foundation


Aviva, a life and health insurer in Singapore, and Navigator Investment Services, an Aviva-owned integrated investment portfolio administration service, have both chosen to use Calastone’s order routing services.

With Aviva and Navigator joining the service, financial institutions signed up on Calastone’s electronic order routing service account for over half of all fund orders originating from Singapore fund distributors.

The firm has experienced considerable growth in the Asia-Pacific region in terms of new clients and transaction volume. Twenty five fund distributors and over 70 domestic and cross-border fund managers are now signed up to the Calastone transaction network in the region.

Peter Gibson, chief operating officer of Navigator, said: “Moving from manual fund dealing and reconciliation processing to a fully automated environment will benefit all parties in the fund distribution chain. For end-investors, our ability to automate the process means we’ll have the capacity to bring on board more funds, which ultimately means that investors get more choice.”

Matthew Yong, head of investor services at Aberdeen Asia, said that in the last two years the firm had been working closely with Calastone in Asia to increase automation rates. When these two Aberdeen distributors go live we expect to reach about 60 percent STP rates in our Singapore Unit Trust via Calastone. This is a fantastic opportunity for the Singapore fund industry to stay at the forefront of technology and become a competitive and innovative domicile to register and distribute funds across Asia.”

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