tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, May 20th, 6:17PM

News

rss
Latest Headlines

FNZ signs up with service to improve efficiencies

Wrap platform FNZ, which has more than $10 billion in assets under management in New Zealand, has signed a deal with Calastone to streamline its operations.

Monday, June 20th 2016, 6:00AM

UK-based Calastone describes itself as an “enabler” to help platforms and fund managers run their systems more efficiently.

Calastone automates the exchange of transaction information between investment managers, platforms, administrators and custodians, operating as an agnostic processing hub, translating order information to and from respective parties in their preferred formats.

It operates in 29 jurisdictions around the world and is now expanding from Australia to New Zealand.

Across the ditch it provides services to 80-85% of platform transactions and 60% of fund managers. 

In New Zealand it already provides back-office services to MMC and Public Trust.

“Our expansion has been primarily driven by our Australian clients wanting access to cross-border opportunities and New Zealand clients embracing automation,” Calastone managing director Australia, Sarah Hayward, said.

The firm’s extended cross border coverage enables transactions between Australian and New Zealand platforms, fund managers and respective counterparts. 

Using Calastone’s services should help FNZ reduce its costs which benefits investors.

MMC co-founder Tom Reiher said with the growth in the number of New Zealanders investing, manual and archaic practices will be unsustainable.

“Using Calastone, we’ll be able to scale up to efficiently process much higher volumes of transactions at a reasonable marginal cost,”  Reiher said.

“Calastone brings a scalable, manageable and controllable solution that relieves us from the intense information flow associated with the large volume of transactions we manage every year.”

Calastone business development director Tony Nejasmic said Calastone’s services provide clients with efficiencies by automating manual processes; helps de-risk business and gives its clients better visibility of process.
FNZ said: “Working in partnership with Calastone in New Zealand further supports FNZ’s capability to automate both underlying and aggregated managed fund transactions, as we do in the UK.

This automation increases efficiency and significantly reduces risk associated with manual instructions; thereby ensuring FNZ and our customers deliver better service outcomes to their clients.

FNZ remains focused on helping people achieve their financial goals through lower costs, better engagement and service excellence.”

FNZ counts ANZ, BNZ, AMP and Fisher Funds amongst its client list.

Tags: FNZ

« Platform aims for 'Xero of investment admin'LVR restrictions to be reviewed »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 5.35 4.49 5.25 5.55
ANZ 5.54 5.15 5.85 6.15
ANZ Blueprint to Build 2.78 - - -
ANZ Special - 4.55 5.25 5.55
ASB Bank 5.35 4.49 5.25 5.55
Avanti Finance 5.45 - - -
Basecorp Finance 6.45 - - -
Bluestone 5.29 7.49 7.59 -
BNZ - Classic - 4.55 5.25 5.45
BNZ - Mortgage One 5.55 - - -
BNZ - Rapid Repay 5.55 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 5.55 5.35 5.94 5.99
BNZ - TotalMoney 5.55 - - -
CFML Loans ▲6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 4.70 5.20 -
Heartland Bank - Online 4.00 3.85 4.70 4.84
Heretaunga Building Society 5.95 4.80 5.50 -
HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.25 ▲4.29 ▲5.09 ▲5.35
Kainga Ora 5.43 4.57 5.58 5.85
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
Kiwibank Special 5.00 4.55 5.19 5.39
Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
Resimac 4.59 5.60 6.16 6.29
Lender Flt 1yr 2yr 3yr
SBS Bank 5.29 4.69 5.35 5.49
SBS Bank Special - 4.19 4.85 4.99
Select Home Loans 4.09 4.29 4.86 5.09
The Co-operative Bank - First Home Special - ▲4.19 - -
The Co-operative Bank - Owner Occ 5.45 ▲4.29 5.19 5.45
The Co-operative Bank - Standard 5.45 ▲4.79 5.69 5.95
TSB Bank 5.59 ▼5.14 ▼5.79 6.15
TSB Special 4.79 ▼4.34 ▼4.99 5.35
Unity 5.65 4.80 5.50 -
Wairarapa Building Society 5.24 4.55 5.20 -
Westpac 5.54 5.09 5.79 6.09
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.54 - - -
Westpac Special - 4.49 5.19 5.49
Median 5.45 4.55 5.25 5.52

Last updated: 19 May 2022 10:42am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com