OneVue purchases MAP Funds Management

Wholesale SMSF solutions provider OneVue has purchased super trustee MAP Funds Management, a move OneVue has described as a strategic transaction ahead of its proposed listing on the Australian Stock Exchange (ASX) this year.

MAP chief executive Jenni Erbel said MAP and OneVue have been collaborating on the development of various products and investment options for members and clients since 2011, including a low cost super product which was released to market last year via the OneVue investment platform.

“Combining the resources of MAP and OneVue will improve efficiencies and increase skills, capabilities and technology across the board,” Erbel said.

“Together we can create a stronger platform for future growth that will enable us to deliver more innovative and competitive investment options to clients.”

Erbel said OneVue works with a number of highly recognised domestic and global brands including Perpetual, State Street Global Advisors, Centuria Capital and BNP Paribas, and MAP strongly believes in OneVue’s highly experienced board, leadership team and staff.

“We are excited about the opportunities and greater capabilities we will be able to deliver through being part of a larger company, including a reduced administration fee for more than 90 per cent of members in the MAP Superannuation Plan who have a balance of over $10,000,” Erbel said.

As part of the transaction the MAP Trustee Board will undergo a slight restructure whereby a number of existing board members will be retained and new professionals will also be appointed.

“This will provide strong links to MAP’s history as well renewed vision for the future,” Erbel said.

OneVue chief executive Connie Mckeage said OneVue has been a major participant in the self managed super fund (SMSF) sector to date.

“While our focus on the SMSF sector will continue going forward, we want to ensure we have a role to play right across the superannuation sector and this transaction strengthens our position in the retail superannuation market significantly,” Mckeage said.

“Whilst each service and client segment creates a valuable opportunity for OneVue, we believe it is actually the interplay between the respective channels that creates the greatest value.”

Mckeage added that this latest purchase by OneVue would add to OneVue’s geographic footprint, with a location now in Brisbane as well as in Sydney and Melbourne.