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.
The Federal Court has refused to approve a multimillion-dollar penalty for a major bank, despite the bank admitting wrongdoing. ...
Nine Australian funds are among the world’s 100 biggest asset owners, according to a new report from Willis Towers Watson’s Thinking Ahe...
All four major banks have staunchly defended their vertically integrated models, arguing that a conflicted ‘one-stop shop’ approach to a...