Iress has expanded its funds administration partnership with Perennial Value Management (Perennial), an Australian-owned specialist active investment management firm.
Through its Quoted Managed Funds capabilities, Iress will support the Perennial issued Daintree Hybrid Opportunities Fund (Managed Fund) (ASX:DHOF), connecting the fund to brokers via CHESS along with traditional managed fund channels such as platforms and direct online. DHOF targets an absolute return over time by investing in a diversified portfolio of global hybrid securities.
The expanded partnership will present all investors with the choice to access DHOF via their broker or online via direct application. Iress will utilise its integrated technology to deliver a consolidated solution within a single register. By providing dual access to managed funds with all transactions recorded in the same place, Iress’ solution increases efficiency by removing the administrative friction typically seen from using two separate registry systems for listed and unlisted funds.
Iress’ head of corporate development & market infrastructure, Warwick Angus, said: "Perennial has significant experience and expertise in listed fund distribution and we've been delighted to support them in delivering a dual access option for their managed fund investors.
“The global trend towards fund managers issuing listed funds or exchange traded managed funds (ETMFs) has been gathering pace for some years. Iress now provides our clients with a leading solution that supports both listed and unlisted funds through a single registry system. This new capability is a logical evolution of Iress’ registry product, and we will continue to invest in our listed access channels as part of our strategy to support flexible investment options for our clients.”
eInvest Managing Director, Camilla Love, whose funds are issued by Perennial, said: “We are delighted to partner with Iress to offer DHOF to our customers. This model will be an important channel in the future of retail distribution. Iress provides us with innovative and automated registry technology options that support our focus on enabling all Australians to access high quality active investment solutions."