Technology
Old Mutual Asset Managers Connects To Calastone
London-based investment firm Old Mutual Asset Managers (UK) has agreed to make its funds available via the Calastone transaction network.
Under the deal Old Mutual attains connectivity to Calastone’s list of global fund distributors and aggregators through a single connection and so can benefit from advantages in cross-border trading and access to distributors and aggregators in Ireland and Luxembourg, Calastone said in a statement. Connectivity to Calastone also means providers can offer their open architecture funds to investors irrespective of domicile or messaging protocol, the firm added.
According to Calastone, its transaction network enables providers to lower costs, gain visibility and keep control of their order flow, without any membership fees or technology expenditure. The firm also points out that by connecting to Calastone firms future-proof their technology by becoming compliant with ISO 20022 standard messaging.
“At Old Mutual, we believe that choice and competition are necessary in driving down cost and encouraging innovation and we are confident that Calastone’s transaction network will continue to attract an increasing number of fund distributors and transfer agents,” said Gary O’Brien, investment support manager at Old Mutual.
In addition to Old Mutual, London-based M&G Investments and Edinburgh-based Martin Currie have also agreed to add their funds to the Calastone transaction network this year.