The ASX mFund Settlement Service continues its growth with more than 200 funds now available to investors and financial advisers.
mFund allows investors to apply for and redeem managed funds through a process like buying or selling shares.
The growth of funds is due to several initiatives over the past two years which include obtaining regulatory clearance to expand service beyond managed investment schemes and adding distribution partners.
ASX managing director and chief executive Dominic Stevens said the mFund was a fast and convenient service that allows investors easy access to managed funds.
“ASX’s mFund service puts unlisted managed funds within easy reach of investors, allowing them to diversify their portfolios into new asset classes,” he said.
Mr Stevens said the ASX was pleased with the service and would continue to help it grow.
“ASX is pleased with the progress of the mFund service, particularly its popularity within the SMSF sector, and is committed to its continued enhancement,” he said.
Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
You can email him on: [email protected]