John Trundle, Chief Executive Officer of Euroclear UK & Ireland, commented: "The holy Grail of the fund industry is to have a better solution than today's slow, unreliable and expensive manual approach to fund transaction processing. This can be achieved through robust automation, endorsed by the whole industry. Euroclear UK & Ireland already offers low-cost, low-risk automated settlement and reconciliation services across securities classes. Most fund distributors have already chosen to use Euroclear UK & Ireland, which is also the natural place for fund managers to seek fast, reliable and low-cost processing automation. We are pleased to welcome all three leading fund managers to our service."

Alan Hawthorn, Global Head of Investor Services at Aberdeen, said: "We see the simplicity of Euroclear UK & Ireland's fund processing system as an extension of our business model for investors in the United Kingdom. Retail investors are looking to save, which is a good thing - and in parallel they are increasingly expecting transparency around product, process and costs arising.

By using Euroclear UK & Ireland, we are assisting the industry in the renaissance of back-to-basics understanding of the product and how it is processed. Automated settlement for bonds and equities has been commonplace at Euroclear UK & Ireland for many years, so there is no reason investment funds shouldn't follow."

Ross Leckie, Director of Communications at Artemis, stated: "Our aim at Artemis is to deliver superior investment returns for our clients. Part of that is to understand and adapt to an ever-changing market place. New legislation like the Retail Distribution Review means that we have to be even more attentive in meeting our clients' bespoke needs. So it is not only a logical, but a natural choice, to ensure that what we offer our clients is supported by cast-iron, post-trade provision through Euroclear UK & Ireland."

Alex Murton, Head of Transfer Agency UK at Schroders, explained: "By implementing the Euroclear UK & Ireland investment fund solution, we are providing our clients with an efficient, cost-effective and complete investment fund solution. The ease with which transfers, corporate action processing as well as reconciliations can now take place should make mutual fund processing as easy as other asset classes in the UK."

Euroclear UK & Ireland offers a comprehensive range of fund-related services, including order routing through the EMX Message System, primarily for domestic market transactions. Cross-border fund transactions are routed to Euroclear's FundSettle platform for asset servicing and settlement between transfer agents, fund promoters and distributors in the UK and abroad.

Domestic fund transaction services are also available through other Euroclear central securities depositories.