Platforms are struggling with fund redemption halts because they are not designed to deal with temporary suspensions, according to Asgard.

Since October 2008, 48 investment funds on the Asgard platform have closed for redemptions.

They affect $2 billion in invested money, or 6 per cent of the total funds under advice on the platform.

"Suspended assets are a huge industry issue, not just for Asgard but for the whole industry," Asgard head Wayne Wilson told financial planners at its briefing in Sydney yesterday.

"At least one in four clients have issues with suspended assets."

The main problem is the difference in fund administration structures on platforms.

"If each underlying fund manages the [administration] process in exactly the same way, then you could make system changes," Wilson said.

"But if you have 48 funds on a platform that all want to do it differently, you basically have to do bespoke administration."

This will also present a challenge for when the funds open again.

"Most platform systems are not used to suspending and un-suspending a fund," Wilson said. "Historically, if a fund is suspended it closes."

Asgard has addressed the problem by creating a full-time team that helps planners answer questions from clients and provides training to the company's contact centre and distribution team.

The company is also making changes to the way redemption windows are managed within the system and has set up cash accounts for when redemptions become available again.

"We continue to make improvements in that space, but it is a deepening issue for all of us over the next 12 months," Wilson said.

"The bottom line is no-one is an expert on suspended assets."