DWS Investment, Germany's leading investment fund manager, has chosen Vestima+, Clearstream's automated order routing service for the investment funds industry thus allowing Vestima+ to enter the German market, one of the biggest domestic markets in Europe for mutual funds.
DWS Investment is the largest retail investment fund management group in Germany with a market share of 24 % and has been rated best German mutual fund company by Standard & Poor's for eleven years in a row. With 150 billion Euros in funds under management the DWS Group is one of the leading mutual fund companies in Europe.
Vestima+ is the automated funds order routing service pioneered by Clearstream. It is the only available system offering free choice of settlement and custody routes and it is aimed at reducing the costs and difficulties of order processing within the investment funds industry. Vestima+ enables fund distributors and fund promoters from Europe's main domestic markets to select their preferred settlement routes and custody providers from a single entry point, allowing them to route their orders to transfer agencies (TAs) using electronic media like an internet-based workstation or SWIFT messages.
Philippe Seyll, Head of Investment fund services at Clearstream added, "We are particularly pleased to welcome DWS, the number one fund provider in Germany as our first Vestima+ fund provider in the German market. Germany is one of the biggest markets for investment funds in Europe and we strongly believe it needs the same level of automation, security in settlement and traceability that other securities markets enjoy. Vestima+ flexibility will help DWS to reach that goal and maximise the benefits."