In a move to streamline fund administration for its Australia and New Zealand clients, Dimensional Fund Advisors will extend its global reach and implement Calastone's global fund transaction network.
Using Calastone's automated system to update the manual processes Dimensional will improve reliability, lift efficiency and decrease risk.
The change comes following a recent interim report of the Murray inquiry into the financial system, which called for a greater focus of efficiency around the operation of superannuation in Australia.
CEO of Dimensional Australia, Glenn Crane, said: “Our business is founded on the principle of delivering great investment outcomes for clients reliably and at a low cost. Using Calastone was an easy decision for us.”
Shannon Bernasconi, managing director of Calastone Australia, said: “Calastone welcomes Dimensional Australia to the network, and looks forward to extending the partnership in both Australia and New Zealand.”
