AMP Capital announced the launch of six of its investment funds on mFund yesterday.
Speaking to InvestorDaily, ASX managed investment services manager Ian Irvine said the AMP Capital decision could prompt other institutions to use the service as well.
“I think it will influence [the banks], and at some stage there will be a tipping point for mFund as there was many years ago when, for example, platforms were chosen to transact equity to shares through a platform,” Mr Irvine said.
“For many years there was an ongoing discussion about putting equities through a platform, now most if not all platforms do so,” he said. “That said though there are significant, other, large managers involved with the mFund settlement service as well, who are perhaps non-aligned.”
“But we have had ongoing discussions with [the banks] from time to time, and there is varying levels of interest across them and within them in terms of the opportunity this presents,” Mr Irvine said.
AMP Capital has launched its Corporate Bond fund, unhedged Global Listed Infrastructure Fund, Global Property Securities Fund, Income Generator, Equity Income Fund and Multi-Asset fund which is a “great step in endorsing” the service.
“That doesn’t say the other fund managers that are there aren’t worthy of investor’s consideration as well – it is just AMP Capital is a very well-known and trusted brand,” Mr Irvine said.
AMP Capital said the launch of these funds will give SMSF trustees and other self-directed investors a new way to access its funds.
“SMSF trustees and other self-directed investors are looking for different ways to access unique investment opportunities to help them meet their investment goals,” AMP Capital head of SMSF Tim Keegan said.
