KBL joins Calastone fund community

Kevin Lee, Managing Director, Calastone: "We are delighted to announce such a major Luxembourg deal; which brings on board such a diverse and recognised range of investment funds."

KBL European Private Bankers S.A. (KBL), has selected Calastone's open architecture cross-border transaction network to transact its funds.

Kevin Lee, Managing Director commented, "We are delighted to announce such a major Luxembourg deal; which brings on board such a diverse and recognised range of investment funds. Both the fund execution and distribution businesses of KBL have acknowledged the benefits associated with connectivity to Calastone. Their dual participation proves the flexibility of our business model. It has always been Calastone's promise to deliver full straight through processing to all mutual fund participants both on and offshore. As more organisations like KBL, which bridge the on and offshore worlds, join our network, we are seeing this become a reality. We are committed to extending our growth in Luxembourg and being the cross-border transaction network of choice for the entire mutual fund industry regardless of geographic location or size of fund manager, provider, distributor or transfer agent."

Romain Bernard, Head of Funds Processing at KBL added, "At KBL we strongly believe that STP and automation not only improve flexibility and reduce risk but also enhance cost efficiency of fund transactions. Calastone's automated approach will give our clients full access to all these winning cards. The messaging system that Calastone has put in place allows us to fully participate in a new infrastructure technology regardless of the domicile or messaging preferences. This involves no significant investment. Our team of professionals is committed to providing all our clients with first-class investment services and we look forward to starting productive relationships with Calastone".