ASX this week welcomed another four new partners to its mFund Settlement Service, with product issuer Legg Mason Global Asset Management, custodian State Street, and broker distributors State One Stockbroking and Amscot Stockbroking now part of the service. This takes the number of partners connected to 8 issuers representing 61 funds and 19 fund managers, 7 distributors, and 7 registrar service providers.
Marcus Christoe, Senior Manager Funds & Investment Products at ASX, said the growing number of partners joining mFund was consistent with the increased interest about the service from investors and advisers. To facilitate this interest, ASX has scheduled a range of educational seminars for retail investors and advisors over October.
“As investors look for ways to tap into new portfolio opportunities and growth from other asset classes and regions, ASX will be offering a series of free seminars to demonstrate how mFund makes the process of diversification simpler for both investors and advisors, and without getting immersed in paperwork,” he said.
– Legg Mason Global Asset Management has added six funds across a range of asset classes including fixed income, equities and also a fund employing an actively managed diversified solution. Legg Mason is one of the world’s largest asset managers. Legg Mason manages US$711 Billion across global equity, fixed income, property and alternative investment markets.
– State Street joins as an ASX Participant to provide the connectivity to the service as a funds unit registry and settlement participant. State Street has over US$27tr in assets under custody and administration, and is the second custodian to join the service, providing linkage to clients, including SMSFs.
– State One Stockbroking and Amscot Stockbroking have added important distributional capabilities by joining the mFund service. State One Stockbroking is an independent Australian-owned financial service group, with offices in Perth and Sydney. Amscot is the non-advisory wholesale division of State One, which provides an array of customisable solutions to advisor clients.
More information on the mFund service, including the list of available funds, prices, performance details, and an educational video explaining how the service works, is available at www.mfund.com.au.
