The Australian Custodial Services Association (ACSA) has announced today that it will facilitate an industry taskforce approach to improving inefficiencies in servicing managed funds.
The move followed surveys by ACSA last year that found a wide-spread belief in the market that more could be done to lower administrative costs, reduce operational risk, and improve the investor experience when it came to managed funds.
These blockages were identified from the perspective of both fund manufacturers and investors, including wealth platforms, superannuation funds, and individuals.
ACSA said the new initiative would try to encourage more automation and standards for both the local market and potentially cross-border opportunities, and address systemic obstacles in servicing managed funds.
The taskforce’s focus would be framed along key pain points identified by the industry, including:
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