SMSF services provider OneVue Fund Services has entered a five-year agreement with BNP Paribas Securities Services in Australia to provide unit registry services.
BNP Paribas’ unit registry clients are expected to be moved across in tranches during the next 18 months.
OneVue said the agreement will create further economies of scale by leveraging the automation and infrastructure within OneVue’s offering.
OneVue chief executive Connie Mckeage said the arrangement will have a “material impact on OneVue Group’s revenues".
Ms Mckeage said since the listing in June 2014, OneVue has steadily expanded its capabilities in unit registry which has led to the business growing in a controlled and planned manner from new fund manager and custodian clients.
“The additional scale in unit registry will also give investment managers and industry funds access to OneVue’s direct to consumer and SMSF solutions,” Ms Mckeage said.
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