OneVue spells out growth prospects

16-Mar-2015

By Julie May

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Platform provider OneVue has flagged existing client growth opportunities within its platform and fund services divisions, pointing to additional prospects arising through its purchase of Select Asset Management.

OneVue head of product and client strategies Alex Wise, who also oversees responsible entity (RE) services, told financialobserver there were obvious synergies throughout OneVue’s operations.

Wise said the group’s ability to cross-sell model portfolio construction with platform and superannuation solutions was generating discussions with financial planning firms on both the platform services side of the business and those that came across through the Select acquisition.

“A broader base of solutions is proving attractive among planners wanting to access skills to construct model portfolios and those who may be taking care of their back office who could benefit from expansive platform capabilities, particularly in regard to self-managed super funds,” he said.

Further, the business’s RE services were gaining traction in regard to the fund services divisions, he said, adding the ability to provide outsourced RE and outsourced unit registry was appealing.

“The key trends we’re currently seeing are very much around outsourcing unit registry, packaging fund services solutions and building scale through technology and infrastructure,” he said.

OneVue’s capabilities in those areas had also led to the business growing its pipeline of potential fund manager and global custodian clients, he said.

“A number of offshore managers are currently looking at our registry and RE services,” he said, adding the firm had seen a notable increase in international managers wanting to enter the market, with several of those seeking to do hedge funds.

In regard to OneVue’s connectivity to the ASX mFund Settlement Service, he said that was also providing new client opportunities, acknowledging Allan Gray and AMP Capital were the first of its fund manager clients to launch products via mFund.

“We’ve been talking to a number of the more innovative super funds that are keen to launch products via mFund and we’ve also been talking to advisory groups looking to do the same with the assistance of groups like Select,” he said.

Further, he pointed to OneVue being not only the registry partner for some mFund participants, but also the RE for many products, indicating there would be an increase in RE clients in and outside mFund.

Meanwhile, the group confirmed Brendan Foley, who joined OneVue as deputy chief executive as part of the Select acquisition last August, had retired to focus on charity work in Nepal.

He would stay on in a consulting capacity, a OneVue spokesperson told financialobserver.

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