First State Investments has selected Euroclear UK & Ireland’s Crest Investment Fund Service to automate settlement for its UK investment funds.
The Crest Investment Fund Service delivers end-to-end automation from order placement to
settlement and asset servicing.
According to Euroclear, clients can now benefit from clear visibility of their settlement obligations and are able to manage cash flow effectively and efficiently.
Terry Yodaiken, head of distribution business support and governance of First State Investments, said: “As well as improving operational efficiencies, Euroclear’s Crest automated settlement service will provide clients with an additional channel to access straight through
processing.”
He added: “This system will not only ensure that clients enjoy a better customer experience through a fully automated, end-to-end settlement service but also reduce settlement risk for both subscribing and redeeming investors and fund investors.”
Stephan Pouyat, global head of capital markets and funds of Euroclear, commented: “We are extremely pleased to welcome First State Investments to our service.”
He added: “The Crest Investment Fund Service has experienced significant momentum due to a market need for automation efficiencies. Our service offering reduces operational and counterparty risks to improve liquidity management and ensure certainty of settlement.”
