Optimix hands investment functions to BNP Paribas
INGsubsidiary Optimix Investment Management has outsourced a range of its back-office investment administration functions to BNP Paribas Securities Services.
As a specialist ‘manage the manager’ investment fund provider, Optimix will have custody, unit pricing, unit registry, performance analytics and accounting services provided by BNP.
The move comes after $2.2 billion in assets were transitioned from Optimix’s outgoing service provider Commonwealth Custodial Services on October 30, when the group exited the investment servicing business.
Optimix’s Emmanuel Calligeris says the selection of BNP Paribas came after an extensive review of the services providers in Australia.
“BNP Paribas showed that they had superior systems, service ethos and were committed to the Australian market,” Calligeris says.
BNP Paribas Securities Services head of sales Jonathan Green says that the key for Optimix was a close fit with BNP that matched all of its business requirements.
“We were successful based on our complementary offer, flexibility and our solutions for the investment management community,” he says.
BNP says that since its launch in Australia and New Zealand in June 2003 the business has won a number of superannuation fund mandates and investment manager business.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
