OneVue Fund Services has partnered with a global bank to provide unit registry services.
The five-year agreement will see OneVue provide unit registry services to BNP Paribas Securities Services in Australia.
OneVue chief executive Connie Mckeage said: “This arrangement will have material impact on OneVue’s group revenues.”
“The additional scale in unit registry will also give investment managers and industry funds access to OneVue’s leading direct to consumer and SMSF solutions.”
Ms Mckeage said that OneVue has been increasing its capabilities in unit registry, which has led to the business growing in a controlled and planned manner for new fund manager and custodian clients.
BNP Paribas’ unit registry clients are expected to be moved across to OneVue over an 18-month period.
Ms Mckeage said the arrangement will also improve OneVue’s market position.
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