In a statement late last week, the ASX said the addition of Legg Mason, State Street, State One Stockbroking and Amscot Stockbroking to the mFund service lifts the number of partners to eight issuers representing 61 funds and 19 fund managers.
ASX fund and investment products senior manager Marcus Christoe said the “growing number” of partners joining the mFund settlement service was consistent with increased interest in the service both from investors and advisers.
“To facilitate this interest, ASX has scheduled a range of educational seminars for retail investors and advisers over October,” Mr Christoe said.
“As investors look for ways to tap into new portfolio opportunities and growth from other asset classes and regions, ASX will be offering a series of free seminars to demonstrate how mFund makes the process of diversification simpler,” he said.
Legg Mason, a founding member of the service, has made its multi-asset retirement income, diversified, Australian bond, small companies, equity income and real income options funds available on mFund.
State Street joined as an ASX participant to provide the connectivity to the service as a fund unit registry and settlement participant.
The ASX said the other two partners, State One Stockbroking and Amscot Stockbroking, have added “important distributional capabilities" by joining the mFund service.
