Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Dimensional Seeks Efficiencies with Calastone

Dimensional Seeks Efficiencies with Calastone

Global asset manager Dimensional Fund Advisors has moved to streamline fund administration for its Australian and New Zealand clients by extending its global relationship and implementing Calastone’s global fund transaction network service.

Calastone specialises in automating manual processes for the managed fund and superannuation sectors. Previously, platforms and funds communicated by fax machine, with data inputted manually by operators.

Dimensional has opted to automate processing in a move that improves reliability, lifts efficiency and decreases risk.

The change is timely, coming after recent interim report of the Murray inquiry into the Financial System, which called for greater focus on efficiency around the operation of superannuation in Australia.

“Our business is founded on the principle of delivering great investment outcomes for clients reliably and at low cost, so using Calastone was an easy decision for us to make,” said Dimensional Australia Chief Executive Officer Glenn Crane.

There are a number of wrap services in Australia currently utilising Calastone’s transaction network service. As other wrap platforms in both Australia and New Zealand move toward automation they are quickly realising the benefits of a single, one-to-many connectivity including increasing domestic and international opportunities.

Calastone, which entered the Australian market in 2011, specialises in automating paper-based processes that connect managed funds with platforms. Straight-through processing has been shown to have a significant impact on lowering cost, and with billions of assets passing through the secure automated network, risks of error and delays are reduced.

”Calastone welcomes Dimensional Australia to the network, and looks forward to extending the partnership both in Australia and New Zealand” said Shannon Bernasconi, Managing Director Calastone Australia.

Founded in 1981 and basing its approach on Nobel Prize-winning academic ideas, Dimensional manages about $400 billion globally for institutional investors and the clients of fee-based financial advisors.

The firm has operated in Australia for 20 years and manages $26 billion for clients in Australia and New Zealand.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news