OneVue Fund Services Pty Limited, a wholly owned subsidiary of OneVue Holdings Ltd (OVH) has entered into a five year agreement with BNP Paribas Securities Services in Australia (BNP Paribas) to provide outsourced unit registry services.
This will allow for the extension of the existing operating model already in place for one of BNP Paribas’ clients to other clients of BNP Paribas.
The outsourcing of BNP Paribas’ unit registry operations to OneVue will be transitioned by a dedicated team led by Richard Stevens.
BNP Paribas’ unit registry clients are expected to be moved across in a number of tranches over an 18 month period.
This opportunity creates further economies of scale by leveraging the automation and infrastructure within the OneVue offering.
OneVue CEO, Ms Connie Mckeage said that the outsourcing will further enhance the OneVue group’s market leading position.
“This arrangement has the potential to at least double OneVue Fund Services’ revenue,” she said.
Ms Mckeage said that since listing in June 2014, OneVue has been steadily expanding its capabilities in unit registry which has led to the business growing in a controlled and planned manner for both new fund manager and custodian clients.
“The additional scale in unit registry will also give investment managers and industry funds access to OneVue’s leading direct to consumer and SMSF solutions,” Ms Mckeage said.
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