Liontrust Live on Calastone’s Automated Fund Share Class Conversions Solution

Liontrust have selected Calastone, the largest global funds network, to introduce new levels of automation in converting fund share classes via Calastone’s Share Class Conversions solution. The fund manager now offers full straight-through-processing (STP) of share class conversions, enabling them to better meet investors’ evolving needs and expectations.

Through the use of the solution, Liontrust can automate any number of conversion requests from any business partner or investor connected to Calastone’s global funds network. This means they can focus on optimising the investor experience and ensuring investors get the best level of service, while reducing operational costs and risk.

Since the introduction of the UK Retail Distribution Review in 2012 there has been a proliferation of share classes, leading to some investors finding themselves in a less optimal share class. The introduction of the FCA’s new Consumer Duty rules underlines the need for the industry to protect the best interests of their investors. Calastone Share Class Conversions directly supports this ethos by automating the conversions process so that any number of conversions can be handled efficiently and promptly. This enables fund managers to simplify their product offering and ensures investors are in the best value share class.

Ross Fox, Managing Director, Head of UK and Europe at Calastone, comments:

“We are delighted that Liontrust have selected Calastone to automate share class conversions processing. The process of moving fund share classes has been complex for market participants and investors alike, often preventing them from accessing the best and most cost effective share classes. Calastone Share Class Conversions is uniquely able to automate this process and thanks to the coverage of our fund network, we provide clients connectivity to all major fund managers and distributors, simplifying the process and removing a significant area of friction.”

Martina Huntley, Head of Client Operations at Liontrust, comments:

“This key enhancement enables us to create a significantly improved investment experience across the entire transaction chain. We’re delighted to be working with Calastone on this, who have been a valuable partner in enabling us to maximise the benefits of automation.”