Financial services provider UBS Securities Australia has joined the ASX’s settlement service mFund.
The addition of UBS brings the number of partners connected to mFund to 11 distributors, 10 issuers which represent 75 funds and 22 fund managers, and nine registrar service providers.
In a statement issued yesterday, ASX manager of wealth management services Chan Arambewela said the inclusion of UBS Securities will extend the access of mFunds to a “greater audience” of financial planners and retail investors.
“UBS has an extensive distribution network covering their own broking clients and, importantly, a number of third-party intermediaries which have their own advisers and investors,” Mr Arambewela said.
“mFund allows these participants to tap into cost-effective asset allocation and portfolio opportunities covering an ever-increasing range of asset classes and regions.
“ASX is continuing to offer a series of free seminars in 2015 to demonstrate how mFund makes the process of diversification simpler for both investors and advisers without getting immersed in paperwork,” he said.
UBS head of execution and clearing services Michael Hawke said mFund is an important innovation and the financial services provider is happy to take part.
“We believe it will introduce efficiencies into the market and improve investor access to a broad and growing range of managed funds,” Mr Hawke said