OneVue's FUA climbs to $2.8bn

Funds under administration (FUA) for SMSF service provider OneVue has now reached $2.8 billion, according to the OneVue December 2014 quarterly update.

OneVue also reported a net funds flow of $97 million for the December quarter on an ongoing basis.

This excludes the impact of a fund restructure, however, which resulted in a $26 million loss in FUM.

FUM now totals $1.06 billion, according to OneVue.

The SMSF service provider said it has benefited from the integration of acquired businesses in both a financial and operational sense.

OneVue said it has generated synergies of around $0.4 million from the Select Investment Partners acquisition through an overall reduction in staff, including duplicate portfolio management staff.

The company also said it has transitioned member administration from internal legacy systems to the Super Managers Funds Administration platform, completing the integration of the MAP businesses, acquired in February 2014.

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