Calastone signs up Equity Trustees
Equity Trustees has signed up to specialist cross-border transaction network Calastone.
Calastone announced this week that Equity Trustees had signed up to the network's order routing service for its 52 fund managers.
Confirming the arrangement, Calastone joint founder Kevin Lee described it as a major step forward for both the company and the local managed funds industry.
Equity Trustees head of corporate fiduciary and financial services Harvey Kalman said the company saw a number of benefits in using Calastone, both for the funds it manages and those it provides fiduciary and responsible entity services for.
"We see significant risk management, cost and efficiency improvements from this approach, which greatly reduces the potential for error in back-office transactions," he said.
Kalman said the company would be rolling out Calastone's order routing network across its unlisted unit trusts over the next few months as part of an upgrade of its IT systems.
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