UK investment platform AJ Bell has appointed Clearstream as its primary custodian for its fund processing activities.
Luxembourg-based Clearstream will be AJ Bell’s primary custodian for funds custody, settlement and order routing for its Youinvest, Investcentre and Custody Solutions products for open-ended investment companies (OEICs), unit trusts and hedge funds via its global fund-processing platform Vestima.
The arrangement will give AJ Bell the ability to process its post-trading activities for funds alongside existing, more traditional products, such as equities, corporate and government bonds, with both a domestic and global reach.
Michael Summersgill, chief financial officer at AJ Bell, said: “This step will simplify our operation, helping us to better serve the advisers and customers that use our platform propositions.”
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