This streamlines a business process that has historically been fragmented, with the use of out-dated manual methods. This has created inefficiency, often causing the late payment of dividends to investors.
Upon the announcement of a dividend by the fund, the Calastone network receives automated event details from the transfer agent, which are translated to the relevant format for the distributor. The dividend events can then be downloaded in bulk or delivered via an automated message or file.
The solution accommodates communication of the dividend event details as well as the estimated and confirmed holdings and expected proceeds. Current and historic events can be viewed using Calastone’s Execution Management System (EMS) user interface.