Euroclear Sweden extends fund universe
Swedish distributors, cross-border fund management companies and transfer agents can now avail of automated fund transaction order routing between relevant parties on a straight-through processing basis at Euroclear Sweden.
Paul Brady, director at Franklin Templeton Investments said, “We welcome this initiative as we strongly believe that we will continue to be able to deliver our funds to this important Nordic market via a proven, safe and efficient distribution network.”
Anders Löfgren, head of product management Euroclear Sweden said, “The Swedish fund market enjoyed a phenomenal 2013 in terms of net inflows, up SEK430bn (EUR 484m) on the previous year according to Fondbolagens Föreningen (Swedish Investment Fund Association).
This strong trend of fund buying has continued into 2014 and spurred Euroclear to further strengthen its operational support to the Swedish investment industry by expanding the scope of possibilities and diversification opportunities to all relevant parties.”
In subsequent phases, Swedish fund companies which today manage roughly 1400 funds worth SEK2.4trn (EUR270bn) are planned to be made available to non-Swedish investors.
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