Clearstream, the post-trade services provider of Deutsche Börse Group, announced that it has reached an agreement with National Australia Bank Limited (NAB) to acquire its Sydney-based specialist managed funds services business Ausmaq Limited. The deal is expected to be finalized in H2 2019 and Ausmaq will become a 100% subsidiary of Clearstream.
Clearstream continues its expansion, entering now the Australian market, considered number one among the fund markets in Asia-Pacific and number four globally with regards to assets under management (AuM). Currently valued at 2 trillion Euros, the Australian market demonstrates steady AuM growth, underpinned by the requirement to make 9.5% compulsory salary contributions to the superannuation industry.
International players active in the Australian market have looked to Clearstream to provide the same infrastructure service that it provides internationally to its clients and to handle the link from the Australian funds market back to the global markets.
Clearstream will now provide Australian custodian banks, wrap platforms and wealth managers with access to its fully-automated global funds processing platform Vestima.
Bernard Tancré, Head of Investment Funds Services at Clearstream, said:
Ausmaq is a perfect fit for Clearstream’s strategy in the Asia-Pacific region. 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.
Ravi Subramaniam, Chief Executive Officer of Ausmaq, commented:
Today’s announcement is the beginning of an exciting new chapter for Ausmaq. We’re thrilled to be joining an organisation of Clearstream’s calibre – a recognised global leader in post-trade services. 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.