Clearstream chosen as Edmond de Rothschild partner
Edmond de Rothschild chooses Clearstream as partner for funds business
Edmond de Rothschild (Suisse) S.A. has chosen Clearstream as strategic partner to streamline and consolidate its third-party fund processing activities. Clearstream’s investment funds processing infrastructure Vestima enables processing of all types of funds from mutual funds to hedge funds on a single platform.
The current regulatory agenda has made asset safety a key concern for financial institutions and the asset management industry. The fifth Undertakings for Collective Investment in Transferable Securities (UCITS V) directive and the Alternative Investment Fund Manager Directive (AIFMD) are reshaping the operational landscape of the European investment funds market, leading to a growing need for transparency and efficiency in investment funds processing.
Centralised solutions, such as Clearstream’s Vestima platform support market participants to comply with the regulatory requirements and new rules on risk mitigation. As an international central securities depository (ICSD), Clearstream is highly regulated and publicly discloses its risk management principles. Vestima’s secured transaction model is based on a delivery-versus-payment (DVP) settlement process that improves operational efficiency and reduces risks.
Philippe Seyll, Co-CEO and Head of Investment Fund Services, Clearstream, said: “We are delighted that Edmond de Rothschild has chosen Vestima for the processing of fund assets. Clearstream operates according to the highest standards of safety for customer assets, including asset segregation and delivery-versus-payment settlement. Edmond de Rothschild will benefit from our focus on risk management and the operational efficiency of our streamlined one-stop-shop solution across all fund types.”
About Edmond de Rothschild Group
Edmond de Rothschild is an independent, family-controlled financial group focused on Asset Management and Private Banking. It comprises especially Edmond de Rothschild (Suisse) S.A., a publicly traded Swiss company. The Group was established in 1953 and since 1997 has been presided over by Baron Benjamin de Rothschild. As at 31 December 2016, the Group had CHF 166 billion of assets under management and 2,700 employees spread across about 30 offices, branches and subsidiaries throughout the world. In addition to its core businesses of Asset Management and Private Banking, the Group is also active in Corporate Finance, Private Equity and Investment Fund Administration.
As an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 56 domestic markets worldwide. With 13 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities.