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.
Go deeper with GlobalData
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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
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.
