Brown Advisory adds Calastone order routing service

23 April 2012

Brown Advisory adds Calastone order routing service

Brown Advisory has signed up to Calastone’s cross-border order routing service for its range of US equity funds domiciled in Dublin, Ireland.

The network allows brokers to send and receive fund order messages, irrespective of their size, geographic location, preferred messaging protocol or technology because the venue standardises all communication to the common ISO 20022 format, assisting automation and straight through processing (STP).

Brown Advisory, an independent investment management firm headquartered in Baltimore, USA, with approximately $29 billion in client assets, launched its UCITS fund structure in 2006 and opened an office in London in 2008. It now manages over $1.4 billion across its five Dublin-domiciled US equity funds for tax purposes. Many of its UK-based clients, including multi-managers and wealth managers will gain the STP efficiency benefits of the switch to Calastone.

As Logie Fitzwilliams, a partner and head of international business development at Brown Advisory, said: “We are pleased to be able to offer Calastone’s transaction network to our clients which is an important development that will improve efficiency and reduce costs for them.”

Written by: Neil Ainger
Editor-in-Chief (2012-2014), bobsguide.
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