Fund houses unite for STP
A new consortium of global fund managers operating in Asia wants to spread automation and standards among distributors.
Fund management companies in the region have formed a new organisation, the Asia Fund Automation Consortium (Afac), to address common interests among fund houses and distributors regarding processing. Automation among financial service companies in Asia lags counterparts in North America and Europe, and local operations executives are banding together to promote straight-through processing.ôIndividually, fund managers have been trying to do something like this for years,ö says Dean Ch…
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