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The ASX mFund Settlement Service continues to grow, with more than 200 funds now available to investors and financial advisers.
mFund allows investors to apply for and redeem unlisted managed funds in a fast and convenient way, through a process similar to buying or selling shares.
The increase in the number of funds available through mFund follows a number of ASX growth initiatives in 2017 and 2018. These include obtaining regulatory clearance to expand the service beyond simple managed investment schemes, adding distribution partners, and conducting investor education.
Dominic Stevens, ASX Managing Director and CEO, said: “ASX’s mFund service puts unlisted managed funds within easy reach of investors, allowing them to diversify their portfolios into new asset classes. mFund is fast and convenient. Investors access the service via their broker or financial adviser just as they would to transact in shares. Paperwork is reduced and investors can have a consolidated view of all their ASX investments.
“ASX is pleased with the progress of the mFund service, particularly its popularity within the SMSF sector, and is committed to its continued enhancement.”
Approximately 75% of mFund’s usage comes from financial advisers who see ASX as an efficient way to build a diversified portfolio for their clients, who are predominantly SMSF trustees.
mFund complements ASX’s other investment products and services, including exchange-traded products and listed investment companies and trusts. Combined, these products cover all asset classes and provide investors with access to more than 500 funds with over $80 billion in funds under management.
ASX launched mFund in May 2014. There are now 66 fund managers connected to mFund, offering 203 funds via 17 brokers.
More information on mFund and a list of the funds can be found at www.asx.com.au/mfund.
