FundBPO rebrands as Mainstream Fund Services
Australian based global fund administrator FundBPO has today announced its rebranding to Mainstream Fund Services.
Mainstream Fund Services, part of MainstreamBPO Limited (ASX: MAI) (MainstreamBPO Group), provides fund administration services to 667 funds, with $119 billion in funds under administration with operations across Asia-Pacific, Europe and North America.
FundBPO was established in Sydney by Byram Johnston and Martin Smith in 2006 as an independent alternative to the global securities services companies and is now one of the largest locally-owned fund administrators operating in Australia.
Mainstream Fund Services offers investment administration, fund accounting, unit registry and middle office services to fund managers’ unlisted funds, listed products and managed accounts.
Nick Happell, Chief Executive Officer of Mainstream Fund Services in Australia, said “With the enormous growth we have seen across the business we now have a new look and new name to unite our operations and better reflect our local expertise and global reach.
Since July 2016 the Group has experienced funds under administration inflows of $31 billion, announced the acquisition of five complementary businesses, with three already integrated and the other two transactions due for completion within the next four weeks, and invested heavily in technology. This has transformed the Group into a global fund administrator that can support fund managers’ operations across market-places.
Commenting on the rebrand, Group Chief Executive Officer Martin Smith said “Our new branding and global operating model reflect our commitment to clients that we are agile and efficient in adapting to ongoing change in the managed funds administration sector both in Australia and offshore.
The rebranding will be progressively rolled out across the Group’s global operations between now and the end of the year, starting with Australia.
The Group’s superannuation administration business, SuperBPO, has rebranded as Mainstream Superannuation Services and parent company MainstreamBPO is asking shareholders to vote on changing its name to Mainstream Group Holdings Limited at its Annual General Meeting this Friday.
About Mainstream Fund Services
Mainstream Fund Services is one of Australia’s largest locally owned fund administrators. We provide specialist investment administration, fund accounting, unit registry and middle office services to a range of investment managers and trustees.
Mainstream Fund Services is part of the MainstreamBPO Group (ASX: MAI). The Group provides fund and superannuation administration services underpinned by investment in people, processes and technology.
As at June 2017 the Group provides administration services to 667 funds and more than 92,000 investors with assets under administration in excess of AUD $119 billion. MainstreamBPO employs over 180 people, with operations in Australia, Singapore, Hong Kong, the United States, the Isle of Man and Malta.