SMSF accountants’ interest in managed funds has potential to spike with the launch of the ASX’s mFund. According to the OneVue/Investment Trends 2014 SMSF Accountant Report, 13 per cent of those surveyed said they’re likely to start using the service for their clients.
The report shows more than half of this group plan to increase their usage of managed funds through mFund. Further, SMSF accountants would be inclined to use mFund to access yield-based investments, equity and infrastructure funds, and funds with international exposure.
“The findings are significant because mFund only recently commenced operation, and already 13 per cent of SMSF accountants say they’re likely to use it. We expect this trend will continue as more accountants become familiar with the service,” OneVue Head of Client and Product Strategies Alex Wise said.
ASX Head of Customer and Business Development Ian Irvine added: “It’s pleasing to see a substantial number of accountants are attracted to mFund. We believe there are significant opportunities for their practices to benefit from mFund’s electronic nature via providers such as OneVue.”
mFund was launched in May 2014 to make funds more accessible to self-managed super fund trustees and other self-directed investors. OneVue is a foundation member of mFund and last December connected the first major fund manager AMP Capital, to the service.
“mFund represents a significant service offering for OneVue and reinforces our strategic positioning to evolve the way Australians manage their investments in a digital environment. We have a fully integrated service offering with connectivity to the ASX’s Clearing House Electronic Subregister System,” Wise said.
“There is a growing demand from SMSF investors who want to buy both managed funds and listed securities in a simple and convenient way. We expect our involvement with mFund to continue to experience substantial growth this year.”