Fidelity International has joined the ASX’s mFund Settlement Scheme with the addition of 12 funds.
In a statement, Fidelity said as of 22 February it will add six global equities funds, three Asian equities funds and three Australian equities funds to the ASX mFund Settlement Scheme.
Fidelity managing director, Australia, Michael Bargholz said: “More people want to invest in unlisted managed funds in the same way they can invest in Australian shares and with the same broker.”
As an mFund, an unlisted managed fund can be admitted for settlement under the ASX Operating Rules and be made available to investors through the mFund Settlement Service.
Fidelity’s move follows NAB's announcement in October 2015 that it would add Nabtrade, NAB Asset Management and NAB Asset Servicing to the mFund service.
As a result of NAB’s commitment, the ASX mFund settlement service effectively doubled its retail footprint overnight.