Hub race heats up with Ausmaq launch

Ausmaqis planning to launch its first broadside in the already highly competitive race to become the pre-eminent provider of a managed funds hub for the Australian funds management industry, with the release of its much awaited MAINlink platform.

Ausmaq chief executive Richard Burrows says MAINlink will be launched over the next few weeks to the wholesale market as a prelude to the roll out of the system to retail users.

“When we have got everything working in the wholesale model, then we will look at a retail offering,” he says.

The platform allows straight through processing, dealing with transactions, distribution of funds and confirmation of electronic transactions.

Burrows says MAINlink will suit master fund operators who want a simple electronic processing system without buying a complete platform.

“We are trying to put MAINlink into every fund manager’s office, but there is always a reluctance for one of them to be the first to sign up.”

The launch will put Ausmaq into the competitive environment already occupied by Investmentlink, which launched its e-Portfolio transaction processing service for retail managed funds in May, and the Australian Stock Exchange, which is planning to release its FundConnect managed fund processing service next year.

Burrows says Ausmaq is offering attractive deals for the first fund managers to sign up to the MAINlink service.