CMC Markets Stockbroking director Andy Rogers said the company's previous paper-based process for unlisted managed funds was “inefficient and unwieldy”.
According to CMC, its mFund offering will provide investors with a “wide exposure to a range of asset classes and industry sectors in international markets, which are underrepresented in the Australian share market”.
The mFund service is completely online and fully integrated with the company’s online trading platform, enabling investors to buy, sell and switch funds with the “click of a mouse”, CMC Markets said.
Currently there are 47 managed funds operating within the mFund offering and this figure is expected to grow significantly this year, CMC Markets added.
Talking about future plans around the company's mFund offering, Mr Rogers said they will work alongside research and content vendors to build out mFund-specific content on their platform.
“[This includes] performance charts, screeners, filters, analyst commentary, quantitative and qualitative research all packaged together,” he said.