Ireland and Luxembourg increase standardised fund orders

ConnectingStandardisation of fund orders received by transfer agents in the cross-border fund centres of Luxembourg and Ireland continues to increase. The European Fund and Asset Management Association (Efama) found a 6.2% increase of fund orders last year made in line with ISO – or international standards.
The report, published in cooperation with the bank messaging network Swift, found total automation – which includes non-ISO automated fund orders - increased to 77.7% in 2012.
Luxembourg’s ISO automation rate in 2012 rose to 56.5% and the total automation rate increased to 73.7% - a rise of 2.8% compared to the fourth quarter of 2011.
Ireland’s total automation rose to 85.3% and the use of ISO messaging standards increased by 6.2%.
Manual processing declined 1.7% and the use of proprietary File Transfer Protocol fell 4.5%. Thirty-two transfer agents in Ireland and Luxembourg, representing more than 80% of total incoming third-party investment fund orders in both markets, participated in the survey.
Efama and Swift have an ongoing campaign to highlight the advancement of automation and standardisation rates of cross-border fund orders.
Peter De Proft, Efama director general, says: “It is important to continue moving in this direction to increase efficiency in the fund industry, reduce operational risk and improve the quality of its services.” ©2013 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.