In other FinTech news, the CFTC reaches out to Mexico and Babson Capital renames itself.
Firm to Use Fiserv’s Asset Manager Connect
Asset manager RNC Genter Capital Management is using Asset Manager Connect from Fiserv to “increase access to managed account sponsors and grow their client base,” officials say.
The Asset Manager Connect links lets firms easily communicate with managed-account sponsors across the Wealth Management Network from Fiserv, officials say. The Wealth Management Network offers asset managers access to a network of 70 sponsor firms, including eight of the top 10 broker-dealers in the U.S. The Fiserv network also supports approximately 300 asset managers, offering sponsors access to hundreds of model portfolio strategies and ultimately offering more choice for the end investor.
The web-based Asset Manager Connect interface is intended to streamline workflow processes through a single point of entry for securely managing portfolios minus the need for tokens and sign-ins to multiple platforms, officials say. The single-point access can help firms get to holdings, transactions and executions for trading and reconciliation across multiple sponsor platforms.
RNC Genter is a registered investment advisor (RIA) with more than $4 billion in assets under management (AUM).
“Historically, data aggregation and switching between sponsors in a multi-token environment created challenges for us,” says John Barry, vice president, operations at RNC Genter, in a prepared statement. The Fiserv “tool aggregates rich data across the extensive sponsor network from Fiserv, providing simultaneous sponsor views, unified downloads, and a single file for cross-platform trading. Asset Manager Connect enables managers to work and scale with much greater efficiency.”
Asset Manager Connect also helps firms import, route and monitor trades for multiple sponsor programs intraday, officials say. “Managers in model delivery programs can communicate model changes to multiple destinations with a single click,” according to Fiserv. They can also access program data reports. “Simplified access minimizes the occurrence of trading errors from manual data entry of orders and models on multiple systems. By accessing more sponsors, asset managers can expand their business and increase volumes and revenues faster.”
“We are able to take on SMA [separately managed accounts] sponsor relationships, regardless of size, secure in the knowledge that Fiserv technology will effectively manage that growth,” says Daniel J. Genter, president and CEO, RNC Genter Capital Management, in a prepared statement. The Asset Manager Connect infrastructure “allows us to add additional business and increase volume while maintaining the excellent service levels our sponsors and clients have come to expect,” Genter says.
RNC Genter has managed investment portfolios for high net worth individuals and families, banks, trusts, foundations, endowments, insurance companies, employee benefits plans and mutual funds since 1968, officials say.
CFTC Signs MOU with Two Mexican Authorities
CFTC Chairman Timothy Massad has signed a memorandum of understanding (MOU) with the Comisión Nacional Bancaria y de Valores (CNBV) and the Banco de México (BDM) “regarding cooperation and the exchange of information in the supervision and oversight of certain regulated entities that operate on a cross-border basis in the United States and in Mexico,” officials say.
Through the MOU, the CFTC and the CNBV and BDM say they will “cooperate in the interest of fulfilling their regulatory mandates,” officials say. The scope of the MOU includes central counterparties and trade repositories.
Babson Capital Announces Name Changes
The Board of Trustees of Babson Capital Corporate Investors (the Trust) recently announced that the Trust will change its name to Barings Corporate Investors effective on Sept. 12, 2016, officials say.
Babson Capital Corporate Investors is a closed-end management investment company advised by Babson Capital Management, a member of the MassMutual Financial Group, officials say.
The name change is intended to clarify the Trust’s relationship to Babson Capital Management (Babson Capital), its investment adviser, which concurrently is changing its name to Barings, officials say.
The name changes are being happening in connection with Babson Capital’s previously announced “combination with two of its subsidiaries, Cornerstone Real Estate Advisers and Wood Creek Capital Management, and its sister company, Baring Asset Management Ltd.,” say officials, adding that this internal consolidation will not result in a change-of-control of Babson Capital under Rule 2a-6 of the Investment Company Act of 1940.
The New York Stock Exchange ticker symbol for the Trust’s common shares (MCI) will remain the same, officials add.
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