Iress expands partnership with Perennial
Iress will support the Perennial-issued global managed fund Daintree Hybrid Opportunities Fund, connecting brokers via CHESS along with its traditional managed fund channels.
The financial technology firm said the expanded partnership would present investors with the choice to access the fund via their broker or online via direct application.
Iress said the dual access to managed funds would mean all transactions would be recorded within a single register, increasing efficiency by removing the administrative friction typically seen from using two separate registry systems for listed and unlisted funds.
Iress’ head of corporate development and market infrastructure, Warwick Angus, said: "Perennial has significant experience and expertise in listed fund distribution and we've been delighted to support them in delivering a dual access option for their managed fund investors.
“The global trend towards fund managers issuing listed funds or exchange traded managed funds (ETMFs) has been gathering pace for some years. Iress now provides our clients with a leading solution that supports both listed and unlisted funds through a single registry system. This new capability is a logical evolution of Iress’ registry product, and we will continue to invest in our listed access channels as part of our strategy to support flexible investment options for our clients.”
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