Clearstream has expanded its fund processing offering in Northern Europe by enabling Finish-domiciled investment funds to access the platform.
Finish funds are now eligible to use Clearstream’s flagship platform, Vestima, for order routing, settlement and custody, while international investors can use their existing setup to directly access Finland-domiciled funds.
Clearstream stated one of the key drivers to expand the platform to Finland was due to international customer demand to fully cover the Nordic investment funds market, which reached €110 billion in assets under management (AUM) by the end of 2018.
Evli Fund Management is the first Finnish asset manager to have successfully onboarded its mutual funds onto the Vestima platform.
“Evli has distributed selected UCITS funds to Central European investors for some years already, but with the eligibility on Vestima our reach expands into new spheres for Finland domiciled funds, said Kim Pessala, managing director, Evli Fund Management.
“International investors will not only gain access to Evli’s mutual funds, but they will also benefit from the Nordic investment knowledge of the entire Finnish fund industry.”
Earlier this year, Clearstream expanded the Vestima eligibility to include Indonesian and Cypriot-domiciled funds, and in October last year, established a link with the Shenzhen Securities Communication Company (SSCS) for direct connectivity of fund order routing for Mainland China-domiciled funds.
“As the leading global fund market infrastructure, Clearstream’s key objective is to support our customers’ investment strategies and to facilitate their business in all markets around the globe,” added Bernard Tancre, head of investment fund services, Clearsteam.