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EMX seeking new supermart deal

EMX, the new purchase, sales and valuation sys-tem for investment funds,

is trying to persuade new fund supermarket Consolidated Funds to use its

system.

EMX chief executive Caroline Lee is meeting Consolidated chief executive

Sam Jensen later this week to discuss the potential of linking up.

Three of the founder funds involved in Consolidated Funds already have EMX

interfaces up and running according to Lee. She says that as Gartmore, M&G

and Thread-needle are already using EMX, it makes sense for Consolidated

Funds to come on board.

Jupiter is the only fund that has not built EMX interfaces.

Jupiter sales and marketing director Steve Glynn says: “Jupiter is not

using the EMX system. It is a commercial decision. We are waiting to see

how EMX develops.

“At the moment, the system has limited bene-fit for the shape of our business.”

Lee says: “Fidelity has confirmed that they will be using the EMX system.

I will be talking to Sam Jensen this week about Consolidated Funds using

the EMX system.

“The only alternatives are for funds either to continue to carry out

transactions on paper or build their own interfaces.

“It does not seem to make sense for funds to build interfaces to each of

the providers now that EMX exists.”

EMX launched this week with 19 providers but only 10 intermediaries.

The company says there are six more firms currently in the process of

signing, two of which are providers and four intermediaries.

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.

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