Smith & Williamson Fund Administration (SWFA) has selected Euroclear, a central securities depository, for fund services and to increase levels of automation.
SWFA is to use Euroclear UK and Ireland to gain higher automation rates in various activities, including order placements, and for asset servicing.
The UK fund administration firm provides a regulatory framework for 170 funds and has seen its assets under administration more than double in recent years, with £12.7 billion of assets under administration recently, compared to £5 billion in 2015.
Brian McLean, a director at SWFA, said: “This is a great step forward for us as we look to provide new and alternative automated routes for investors to trade and settle [SWFA] funds.”
Euroclear UK & Ireland is the central securities depository of the UK, Jersey, Guernsey and the Isle of Man for all domestic securities, and of Ireland for equities.
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