As operational, legal, regulatory and other differences create obstacles for fund managers with global fund families, proposed models for a global transfer agency service offer a future with comprehensive, consolidated and up-to-date information about fund holdings and activities; a consistent level of service across the globe; and un-intermediated digital relationships with investors.
To explore this topic more, view our webinar. The webinar features a panel of industry experts discussing the challenges to creating a global transfer agency service and the implications of each potential model.
Regional stand-alone transfer agents in major markets plus local specialists
In this model, managers would shift each of their largest markets to a series of stand-alone providers, probably on a regional basis. In practice, this means that books of business would have to transition from one platform to another, existing contracts would have to be terminated and new contracts agreed. Regional transfer agents would be responsible for gathering data and submitting it to a global data warehouse, adding a further layer of complexity.
Global network of transfer agents
This model uses an appointed global transfer agent to manage a network of sub-transfer agents in each market where managers distribute funds. A benefit of this model is that systems, connectivity, and data delivery remain consistent, with buyers monitoring one entity instead of several.
Global technology platform
A global technology platform is considered by many to be the ideal form of global transfer agency. Client funds under this model are distributed and serviced from a single global technology platform that is accessible by distributors in each market. The platform’s single register could be updated in real-time as fund shares are bought, redeemed and switched.
What is the impact?
Our Global Transfer Agency Webinar discusses what these models could mean for the industry, including the drivers and benefits of a new model, the role of data and analytics, and the ways asset managers are looking to cut costs. For more panel discussions, register for SS&C Deliver, our premier FinTech conference that attracts up to 1,000 attendees and exhibitors.
Asset Management, EMEA, Fund Administration