Investment management firm OneVue has agreed to acquire the unit registry unit of stock transfer agent business, Computershare.
The acquisition of Computershare Fund Services (CFS) is expected to take place over the next few months as OneVue is in the process relocating CFS staff and operations to its new Melbourne office.
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CFS was formed in 2004 by merging Alamo Direct and Georgeson Shareholder, two subsidiaries of Computershare.
CFS offers proxy and mailing services to global mutual fund companies for non-proxy compliance mailings.
OneVue group chief executive Connie Mckeage said the lift out of staff, systems and related collateral from CFS will secure continuity of services currently provided to CFS clients, which include BNP Paribas and Centuria Capital.
"This acquisition will catapult OneVue into becoming the largest provider of outsourced unit registry solutions in Australia," Mckeage said.
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By GlobalDataMckeage noted that that the acquisition help strengthen Australia’s under-invested outsourced unit registry administration sector.
"On top of that, connecting to the ASX Managed Funds Service, commonly referred to as AQUA II, will change the landscape of the sector as investors will be able to transact managed funds on the Australian Stock Exchange for the first time," Mckeage said.
