Global fund transaction network specialist, Calastone has signed up another Australian fund manager client - this time Dimensional Fund Advisors.
The two companies have confirmed the relationship, with Dimensional saying the move is intended to streamline fund administration for its Australian and New Zealand clients.
Calastone specialises in automating manual processes for the managed fund and superannuation sectors. Previously, platforms and funds communicated by fax machine, with data inputted manually by operators.
Dimensional has opted to automate processing with the intention of improving reliability, lifting efficiency and decreasing risk.
The joint announcement between the two companies claimed the change was timely because it came after the interim report of the Murray inquiry into the Financial System, which called for greater focus on efficiency around the operation of superannuation in Australia.