Published On: Fri, Feb 6th, 2015

Korea Securities Depository (KSD) and Clearstream launch investment fund cooperation

Jaehoon Yoo, Chairman & CEO, Korea Securities Depository

Jaehoon Yoo, Chairman & CEO, Korea Securities Depository

On 2 February 2015, Korea Securities Depository (KSD) and Clearstream signed a contractual framework in Seoul which launches their investment fund cooperation. The new partnership supports cross-border investment fund distribution (direct and indirect distribution) by linking KSD’s FundNet and Clearstream’s global fund processing platform Vestima.

Clearstream has taken an important step in facilitating the opening of the Korean market for offshore funds, thereby strengthening its ties with Asian financial markets.

Mr. Jaehoon Yoo, Chairman & CEO, KSD, said: “The partnership with Clearstream significantly enhances our cross-border investment fund distribution capabilities. In response to the diverse investment needs of customers, we decided to establish a link with Vestima, the largest global fund processing platform. This partnership also provides our domestic Korean asset management industry with lower costs and higher efficiency.”

Philippe Seyll, Member of the Executive Board of Clearstream and Head of Investment Fund Services, described the partnership with KSD as a further milestone in our Asia fund strategy as it allows offshore fund managers to gain easy access to Korean investors. “We are pleased about the new link to KSD and the Korean investment fund market. Korea is a major domicile for investment funds in Asia, where markets are continuing to open up to offshore funds,”
he said.

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