KBL European Private Bankers, a Luxembourg-based pan-European fund promoter, has opted to join Calastone’s cross-border transaction network.

KBL focuses on natural resources, emerging markets and other alternative investments, and through its UK affiliate Brown Shipley offers a sterling bond fund.

Kevin Lee, Calastone managing director, commented: “We are delighted to announce such a major Luxembourg deal; which brings on board such a diverse and recognised range of investment funds. Both the fund execution and distribution businesses of KBL have acknowledged the benefits associated with connectivity to Calastone.”

Romain Bernard, head of funds processing at KBL, added: “At KBL we strongly believe that straight-through-processing and automation not only improve flexibility and reduce risk but also enhance cost efficiency of fund transactions. Calastone’s automated approach will give our clients full access to all these winning cards.

“The messaging system that Calastone has put in place allows us to fully participate in a new infrastructure technology regardless of the domicile or messaging preferences. This involves no significant investment.”