Macquarie Wrap has offered discounts to fund managers prepared to transact with it via SWIFT’s new managed fund messaging standards.
In a recent letter to all the funds managers on its menus, Macquarie Wrap outlined plans to trial and move quickly ahead with the implementation of SWIFT messages to standardise transactions such as applications, redemptions and distributions. The platform also announced that it would offer fee discounts to any manager which also adopted the SWIFT messaging standards. The SWIFT messages improve the efficiency and cost of managed fund transactions, using a suite of standardised electronic messages (in the widely adaptable XML language) to reduce the industry’s current heavy reliance on faxes. The value-add of adopting the SWIFT messages for Macquarie Wrap will be enhanced with each additional fund manager it can convince to use the messages.
There is one investment area where Insignia’s $180 billion super arm has not lost money for the past 17 years, which is what it calls the insurance-related investments. The alternatives strategy is gaining popularity among asset owners due to its diversification benefit, but Insignia’s super and asset management investment chief Dan Farmer warns it is a space where investors can suffer if they “stumble in without doing the homework”.
Darcy SongJanuary 23, 2025
