The majority of Europe and UK fund managers and distributors want fund transfer automation to help them deliver a better investor experience.
But, they are still stuck in the manual processing era citing connectivity and standardisation as the major issue, according to Calastone’s latest fund transfers survey of 32 fund managers and distributors across Europe and the UK.
Headline findings include:
- Of the 30% of firms sending/receiving automated transfers only 7% had automated 85+% of their transfer flows. This is despite:
- Almost two-thirds of respondents having the ability to send/receive automated transfer messages
- 100% of respondents agreeing the asset management industry would benefit from the adoption of automated and standardised transfer solutions
- Almost half of all fund transfers take 10 days or more despite the fact that in-specie fund transfers can be completed in hours