SMSF administration provider Superfund Partners has executed its first direct purchase of an unlisted managed fund for a client via OpenMarkets’ trading hub.
The platform used to complete the trade, OpenMarkets’ Multi-Asset Trading Hub (MATH), feeds transactional information to Superfund Partners through Class Super’s SMSF administration software.
Superfund Partners general manager Kris Kitto said the MATH online trading system gives Superfund Partners' self-managed clients access to both direct shares and managed funds and provides consolidated reporting for advisers and SMSF trustees.
“In 2015 we will be looking to provide the reconciliation information from the primary registry source,” said Mr Kitto.
“This will significantly streamline the administration and audit processes as well as providing an up-to-date, consolidated view of client’s portfolios.”
OpenMarkets managing director Rick Klink said the MATH system offers access to funds that “aren’t available on the ASX mFund service”.
“OpenMarkets also allows for the use of the SMSF [cash managed account] for trading of the asset, lowering the administration costs and simplifying reconciliation,” said Mr Klink.
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