‘FundSettle Premier ’,the label that assures investment-fund investors of low-cost,top-quality processing services for their fund transactions,has been adopted by more major fund promoters. Credit Suisse Asset Management,Fidelity and UBS Fund Services are the latest to sign up to the programme.
To encourage more fund distributors to fully automate their back-office operations,transactions carrying the FundSettle Premier label will cost up to 25%less to process,while receiving superior service levels.Fund distributors will also benefit from:- fast-track settlement due to greater automation and later input deadlines;
- earlier notification and receipt of new fund information and corporate- action proceeds,such as dividends;and
- a reduction in operating risks.
Claude Metz,Vice-President at Credit Suisse Asset Management Fund Service (Luxembourg),said:“We are long-time supporters of increased automation and standardisation in fund-transaction processing in order to reduce costs and risks.By marketing our funds with the FundSettle Premier quality label,we are emphasising the service and cost benefits of operating with full STP.”
Ivan Nicora,Director of Investment Fund Product Management at Euroclear, added:“We are delighted that more fund promoters are taking the decision to differentiate their funds with the FundSettle Premier label.This is also true of the transfer-agent community in that more and more transfer agents view FundSettle Premier as the catalyst to achieving greater processing efficiency and operational cost savings in the funds industry.”
