Clearstream links with KSD's FundNet

Clearstream links with KSD's FundNet

Korea Securities Depository (KSD) and Clearstream signed a contractual framework in Seoul which launches their investment fund cooperation. 

The new partnership supports cross-border investment fund distribution, both direct and indirect, by linking KSD’s FundNet and Clearstream’s global fund processing platform Vestima.

“The partnership with Clearstream significantly enhances our cross-border investment fund distribution capabilities," said Jaehoon Yoo, Chairman & CEO, KSD. 

"In response to the diverse investment needs of customers, we decided to establish a link with Vestima, the largest global fund processing platform. This partnership also provides our domestic Korean asset management industry with lower costs and higher efficiency.”

Clearstream said it has taken an important step in facilitating the opening of the Korean market for offshore funds, thereby strengthening its ties with Asian financial markets.

Philippe Seyll, member of the executive board of Clearstream and head of investment fund services, described the partnership with KSD as a further milestone in Clearstream's Asia fund strategy as it allows offshore fund managers to gain easy access to Korean investors. 

“We are pleased about the new link to KSD and the Korean investment fund market. Korea is a major domicile for investment
funds in Asia, where markets are continuing to open up to offshore funds,” he said.

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