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OneVue completes first fund manager transition under NAB
Twenty-five UBS Asset Management funds are now on the OneVue Fund Services fund administration platform, transitioning as the first move of the firm’s five-year partnership with NAB Asset Servicing.
The transition of funds comes one year after the partnership between OneVue and NAB Asset Management for the provision of its automated managed fund administration solution was announced.
“Having NAB (National Australia Bank) as a custody partner had made OneVue a much strong organisation,” said OneVue managing director, Connie Mckeage.
“We were fortunate that NAB chose UBS to be their first client transition as the experience, breadth and depth of the UBS team made what can be a very challenging time a very rewarding experience.”
UBS chief operations officer, Glen Rice said the partnership had provided UBS’ investors and advisers with direct access to key registry data.
The transition confirmed OneVue’s position as the largest funds administrator in Australia, with $513 billion under management. OneVue, which is listed on the Australian Securities Exchange (ASX), operates through three divisions and partners to disrupt across the superannuation value chain.
On the funds front for UBS, FE Analytics showed the UBS Australian Share Fund had an annualised one year return of 11.46 per cent, behind the 15.19 per cent benchmark.
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