OneVue has been selected by another custodian to provide a consolidated retail and institutional unit registry offering for one of the world’s most successful investment managers, with over $1 trillion in assets under management globally.
OneVue will support this investment manager’s new wealth management distribution strategy in Australia by packaging OneVue’s unit registry service with a global custody service to provide a holistic middle to back office solution. OneVue is also providing the global investment manager with its own branded retail and institutional unit registry site, including a fully automated service for their mFunds products.
This latest client is scheduled to go live today with the combined offering.
This appointment is the latest in a series of high-profile wins for OneVue and completes the Funds Services transitions foreshadowed to add $2,000,000 per annum to OneVue’s revenue run rate. OneVue has been able to create further operating leverage in Fund Services due to its high level of automation.
OneVue’s Managing Director Connie Mckeage said “In order to partner with custodians and global investment managers, we have to undergo due diligence on a regular basis by teams both domestically and globally. It is reassuring to know that we are not only setting the standard for unit registry in Australia but are meeting global expectations in the way we do things.”
Whilst these recent wins will all add future incremental revenue, the once-off costs of funding the transitions will be reflected in the first half year’s results.