Finland domiciled funds now available in Vestima
Clearstream has further expanded its Vestima offering in Northern Europe by making Finland domiciled investment funds eligible for order routing, settlement and custody. International customers can use their Vestima setup to directly access Finland domiciled funds and benefit from the same streamlined handling as for other markets.
Key drivers for adding Finland are international customer demand to fully cover the Nordic investment fund markets and of course, a solid fund market with assets under management (AUM) reaching EUR 110 bn at the end of 2018.
Evli Fund Management Company Ltd is the first Finnish Asset Manager to have successfully on-boarded its mutual funds to the Vestima platform and has thereby greatly extended its distribution network.
Kim Pessala, Managing Director at Evli Fund Management Company Ltd commented, “Evli has distributed selected UCITS funds to Central European investors for some years already, but with the eligibility on Vestima our reach expands into new spheres for Finland domiciled funds. International investors will not only gain access to Evli’s mutual funds, but they will also benefit from the Nordic investment knowledge of the entire Finnish fund industry.
Bernard Tancré, Executive Director and Head of Investment Fund Services at Clearstream stated: “We welcome Finland as new fund market covered by Clearstream and the eligibility of Finland domiciled funds in Vestima which is a further step in extending our reach in the Nordics. As the leading global fund market infrastructure, Clearstream’s key objective is to support our customers’ investment strategies and to facilitate their business in all markets around the globe.”
Further insights into the local Finnish fund market infrastructure are available in the Investment Fund Market Guide – Finland, that provides more information on the type of Finnish investment funds eligible in Clearstream, the Disclosure Requirements, the Holding Restrictions and the Market Specifications.
One-stop shop for funds
Clearstream acts a single point of entry for orders, streamlined cash management and consolidated position reporting in a secure environment. Clearstream offers customers direct access to local domiciled funds in 48 fund jurisdictions worldwide, of which 30 are in Europe.