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FundXchange goes online with offshore plan service

Technology specialist Fund-Xchange is setting up an online transaction facility which it claims will revolutionise the offshore mutual funds industry.

The company will be the first independent electronic exchange and execution facility to be launched for offshore funds and aims to replace the current systems.

FundXchange says the online platform will process transactions and deliver information to all the key participants in the investment process such as fund admin, fund managers and investors.

It says the facility will give fund managers a comprehensive investor and intermediary management system, a global online distribution channel and the ability to manage commission and detailed distribution reports.

The Exchange will also provide administrators with an efficient electronic investment and reporting facility, while institutional, advisory and qualified investors will be able to use a portfolio management and tracking system for their offshore funds.

FundXchange&#39s aim is to match the offshore sector with the speed and efficiency of the domestic markets. It is carrying out a pilot scheme with two banks and expects the facility to be available to the wider offshore community at the start of next year.

Chief executive Rupert Vaughn Williams says: “Fund Xchange is the result of a deep understanding of the offshore industry and the rise of internet technology.

“We have produced a leading-edge solution which meets the needs of all participants in the investment process and delivers a vast improvement in the management of offshore investment.”


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Case study: administration — managing group life schemes

Our client leads the global market in high-tech electronics manufacturing and digital media. The trustees of the company’s final salary pension scheme insure death-in-service lump sum and dependants’ pension death benefits for active employees, as well as dependants’ pension benefits for deferred members (those who have left service).


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