We are pleased to announce the release of our latest products, Prism Select and OLIVIA123.
Australian Fund Monitors launches Prism Select and OLIVIA123 as an alternative to ASX'S mFUND SERVICE.
Australian Fund Monitors Pty Limited (AFM), a specialist provider of research on actively managed, absolute return and hedge funds, has thrown down the gauntlet to the Australian Securities Exchange's new mFund service.
AFM has launched the new Prism Select portal for self-directed investors or their advisors to enable them to research and apply for unlisted managed funds, and providing a superior research service to the ASX.
Prism Select has launched with comprehensive information and performance on a range of 14 boutique funds, enabling investors to compare and research each one.
AFM believes Prism Select's research offering is superior to mFund's, as it includes a number of wholesale funds not available through the mFunds service, contains a significantly greater depth of information and detail on each fund, and finally provides the ability to apply and deal directly with their chosen fund without having to contact a stockbroker.
AFM was established in Sydney in 2006 and is a specialist provider of research and information on actively managed funds, including hedge and absolute return funds, maintaining a database (www.fundmonitors.com) that contains over 300 funds either managed from or available in Australia.
Going forward it is expected many of these funds will sign up to Prism Select, and AFM's new online application process, OLIVIA123, which cuts down the time taken and mistakes made when applying for managed funds.
AFM believes that mFund is a welcome industry advance, but is mainly directed at retail investors, with only basic information provided on each fund. The investor is then referred to a limited group of five stockbrokers, with which they have to establish an account, before placing their order. While it has the convenience of the ASX settlement service, the range of funds remains limited to 12 Managers and 44 funds at this stage, while the information on each fund, and its strategy and performance metrics is minimal.
Like mFund, Prism Select does not provide financial advice, but it does provide investors with comprehensive, verifiable and in-depth information, along with up to date performance and risk data on each fund, assisting investors and their advisors to make informed and well-considered investment decisions.
All funds available on Prism Select are contained in their own "kiosk" each containing a wide range of factual and qualitative information, including the fund manager's details, the fund's investment strategy, its performance history, advanced analytics, and investment terms and fees, all in one place.
Users of Prism Select can also download and view copies of the managers' recent performance reports and offer documents, which coupled with AFM's own Fund Reviews provide investors with a powerful research and information tool.
OLIVIA123 - on line applications as easy as one, two, three.
Prism Select also provides access to each fund's offer documents and application forms through OLIVIA123, an online application service developed by AFM which provides a customised and interactive application form for each fund, reducing the time and frustration often experienced by investors when completing paper based application forms, and cutting the errors and omissions which often delay the processing of their applications.
OLIVIA123 consists of three modules - Data Collection, Identity Verification (AML&KYC), and Online Execution - assisting fund managers and their administrators by reducing the time and costs of processing paper based applications, including compliance with new anti-money laundering legislation.
OLIVIA123's online, interactive system is estimated to cut the time taken to complete and process a paper based application by up to 70 per cent.
Both Prism Select and OLIVIA123 will be rolled out progressively as additional funds are added to the portal, which will also provide "white labeling" and licensing functions for advisors, fund managers and fund administrators.
There is no cost to the user for access to Prism Select. Each Fund Manager pays a monthly fee covering a range of hosting services and research, and contributes a fixed portion of their management fee for transactions processed through OLIVIA123.
For further information visit www.prismselect.com or email enquiries@prismselect.com.
Chris Gosselin
CEO, AUSTRALIAN FUND MONITORS
