The Fund Platform Group (FPG), a new industry body that brings together a range of fund distribution platforms in an effort to build relationships and promote understanding between all stakeholders in the global fund distribution platform business, officially launched today.
The groups founding charter members are all financial institutions acting as fund distribution platforms for third-party funds and include: RBC-DEXIA Investor Services, Fund Channel, Moventum, MFEX, Attrax, Swisscanto London and Socit Gnrale Securities Services.
FPG associate member, KNEIP, first brought the founding charter members together in 2010 to discuss establishing FPG and will act as a facilitator and supporter of the groups efforts moving forward.
The FPGs mission is to establish high professional standards and facilitate the efficient and secure distribution of investment funds to end investors. It aims to achieve this by improving the efficiency of transaction handling, by working to establish new standards of fund data, corporate events, securities and cash processing, and distribution agreements; creating a single market voice to educate, promote and actively participate in the shaping of industry regulation; and developing and promoting industry best practices through the establishment and recommendation of service norms for industry-wide implementation.
“Fund platforms are pivotal to the evolution of the global distribution landscape, regardless of the type or location of a fund, says Edouard Bokuetenge, director of distribution support at RBC-DEXIA Investor Services and chairman of the FPG. This association, initially brought together by KNEIP, acts as a catalyst for the global development of the fund industry. At a time when new legislations are facilitating cross-border distribution but also bringing greater complexity, we believe that the creation of a strong and independent global fund platform association is critical. We are very pleased to meet this need.”
(CM)