Technology

Gartmore Connects To Calastone

Rachel Walsh 4 February 2009

Gartmore Connects To Calastone

Calastone, the cross-border transaction network for mutual funds has inked a deal to offer Gartmore Investment Management products.

Gartmore’s mutual fund third party administrator, International Financial Data Services, is now connected to Calastone  so the investment managers can take advantage of STP efficiencies, not only from the automation of the lifecycle of mutual fund trades, but also from business flow process automation achievable by Calastone connectivity.

“We have been impressed with Calastone and IFDS’s collaboration to complement existing opportunities for electronic trading and to extend such opportunities to the wider mutual fund community. Choice and competitive forces will only benefit the mutual fund industry by reducing transaction costs and improving the settlement process. We look forward to embracing the opportunities Calastone's global reach will offer,” Martin Jones, head of TPA service delivery at Gartmore.

Calastone’s membership fee free basis, and a low tariff pricing model, is enabling the mutual fund community to reduce cost and operational risk. Now irrespective of their preferred method of connectivity, messaging protocol or standards, all Calastone participants enjoy straight through processing regardless of their size or technology capabilities. In addition, transactions can now be tracked and exceptions managed on a real-time basis via the Calastone EMS.

Gartmore provides investment management products and services to retail and institutional investors in the UK, Continental Europe, the US, Japan and South America. As at 31 December 2008, Gartmore managed over £18 billion (about $26 billion) in assets under management.

Headquartered in London, Gartmore also has offices in Boston, Frankfurt, Madrid and Tokyo. The company is owned by Hellman & Friedman, and Gartmore’s senior fund managers and executives.

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