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London-based Cofunds has chosen Calastone and Barclays' managed fund settlement service to support its investment platform.
Stephen Mohan, managing director of operational services at Cofunds, hopes the fully managed settlement service will reduce exposure, as well as counterparty and liquidity risk.
"The integration of this product is the ideal step forward in helping us streamline and improve automation within our cash management sector," says Mohan. "We are always looking at ways in which we can improve efficiencies and reduce risk and these benefits, along with the reduced cash flow exposure, are the main drivers for us signing up."
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