London, 31 October 2018 – Smith & Williamson Fund Administration Limited (SWFAL), a leading independent hosted Authorised Corporate Director and fund administrator, has gone live with Euroclear UK & Ireland’s (EUI’s) investment fund service.

EUI’s investment fund service delivers end-to-end automation from order placement to settlement and asset servicing. It reduces operational and counterparty risks, improves liquidity management and gives certainty of settlement, making the back office function safe and reliable. Clients benefit from clearer visibility of their settlement obligations and are able to manage cash flows better.

SWFAL has provided standalone fund administration services since 1983 and now acts as an authorised fund operator providing the regulatory framework for 170 funds for investment managers, family offices and private individuals. The Smith & Williamson group is one of the largest independently-owned investment managers in the UK in addition to being the country’s eighth largest accounting firm. SWFAL business growth has been significant in recent years, with £12.7 billion of assets under administration as at 30 September 2018, standing at more than double the level reached in 2015 - £5 billion.

Brian McLean, Director of SWFAL commented: “This is a great step forward for us as we look to provide new and alternative automated routes, for investors to trade and settle SWFAL funds. We are delighted to partner with EUI in this venture and see this as a major milestone in the growth potential and service offering of our business.”

John Trundle, CEO, Euroclear UK & Ireland added: “We are extremely pleased that Smith & Williamson has chosen our service. We are committed to providing clients with a simple, reliable and fully-automated solution for fund order routing and settlement. The resulting operational efficiencies reduce risk and save costs for clients.”

Euroclear UK & Ireland (EUI) is the central securities depository (CSD) of the UK, Jersey, Guernsey and the Isle of Man for all domestic securities, and of Ireland for equities.

Note to editors

Euroclear UK & Ireland is part of the Euroclear group which also includes Euroclear Bank - which is rated AA+ by Fitch Ratings and AA by Standard & Poor’s - as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland and Euroclear Sweden.

The Euroclear group settled the equivalent of EUR 733 trillion in securities transactions in 2017, representing 215 million domestic and cross-border transactions and held EUR 28.6 trillion in assets for clients.

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