Fidelity/Euroclear team up for same-day order-processing
EUROPE - Fidelity Investments is offering a new same-day order-processing service through Euroclear’s cross-border fund processing platform, FundSettle.
The service covers Fidelity’s family of funds distributed in Europe.
Ted Boyle, managing director (operations) at Fidelity Investments, said: We have been working with FundSettle since May 2001 and are convinced of its added value to the fund industry.”
Barbara Vuylsteke, director and head of investment fund product management at Euroclear, the world's largest settlement system, said: “The growth in the volume of transactions processed and the number of funds eligible for processing on FundSettle indicates strong interest for an automated and standardised solution to process fund transactions on an straight-through basis.
Schroders boosts fee administration
UK - Schroders has boosted its fee billing and revenue administration with help from software consultants, Citisoft.
Schroders has set up a team to co-ordinate invoicing and revenue calculation for its four London-based institutional business units.
It will use the Advantage Fee System from Interactive Technologies which will calculate and report fees for portfolios in London and New York and will also fully automate the calculation of monthly accruals.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers