announced this Friday that its post-trade services provider Clearstream is planning on entering the Australian market with the acquisition of Ausmaq Limited.
Based in Sydney, Ausmaq Limited is the managed funds services business of the (NAB). The company administers managed funds and term deposits for wrap platform providers and wealth managers in Australia.
According to the statement, Clearstream has reached an agreement with NAB to acquire its subsidiary. The transaction is expected to be closed in the second half of 2019, subject to regulatory approval and customary closing conditions.
Clearstream to Expand Ausmaq Offering
Following the acquisition, the will expand the service offering of Ausmaq. Once the transaction has been closed, the post-trade services firm plans to offer Ausmaq’s clients access to its global funds processing platform Vestima.
Source: LinkedIn
“As an established provider of fund processing solutions, the acquisition allows us to broaden our fund service offering in Australia and to provide our international customers with integrated solutions for the domestic market.”
As part of the deal, the managed funds administration will become a 100 per cent subsidiary of Clearstream, the statement said. At present, Ausmaq is a wholly-owned subsidiary of NAB.
Source: LinkedIn
“Our clients can expect to receive the same exemplary service that they’ve become accustomed to over the years, with increases in the service offering to be introduced over time.”
The acquisition is part of Deutsche Börse’s Roadmap 2020 strategy. As part of the strategy, the Group plans on growing in the investment funds industry. In terms of assets under management, Australia has the top funds market in the Asia Pacific region and ranks number four globally.
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