Dimensional signs up to Calastone
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.
Recommended for you
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
Private market secondaries manager Coller Capital has unveiled a new education platform to improve advisers’ and investors’ understanding of secondaries.
