Australian Unity enters fund admin agreement with OneVue
Australian Unity Wealth and Capital Markets (AUWCM) will become OneVue’s largest single managed fund administration client as it has entered into a five-year outsourced managed fund admin agreement for its range of investment and property funds, and investment bonds.
The transition will start in the last quarter of 2020 and is expected to be complete in 2021, and will see a 25% increase in OneVue’s number of items processed across the business, OneVue said in an announcement to the Australian Securities Exchange (ASX).
OneVue said the transition would support Australian Unity’s client engagement as well as increasing the level of automation and efficiency for its range of investments.
OneVue deputy chief executive officer, Richard Harris-Smith, said: “AUWCM will be integrated into our highly automated and scalable model and I am very excited about this opportunity as we continue to build on our managed funds business.
“I have very much enjoyed working with the team at AUWCM and look forward to transitioning the product suite across to a more automated service and working alongside the team at AUWCM to uplift the client experience.”
Recommended for you
The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.
Betashares has expanded its fixed income solutions with the launch of a new ETF offering exposure to subordinated bonds issued by the big four Australian banks.
The latest monthly Bank of America global fund manager survey has found investors are starting to shift cash into bonds as cash allocations reach a three-year low.
AUSIEX analysis has discovered the net traded value of Australian dollar fixed income ETFs more than doubled from January to April, reflecting growing investor demand.
