Momentum Advisory Service is set to gain competitive advantage in the retirement fund market with its new software - providing fund scheme members unparalled investor flexibility and choice - built on the specialised multi-fund management platform developed by JSE-listed Smacsoft.
A division of FirstRand Group, Momentum Advisory Services recently launched its Group Investment Option - a multi-management wholesale pension product, which gives members a choice of a wide range of investments, managed by a selection of asset managers.
The product is built on Smacsoft's Interlink Structured Funds system and enables companies such as Momentum to offer their clients - pension or provident funds - a multi-fund investment structure, which allows their members or trustees to select how they invest their retirement monies. Members are also able to structure their portfolios according to their risk profiles.
"Smacsoft's Interlink Structured Funds System gives us the advanced back-office technology we need to provide clients with multi-lateral financial products that are transparent, flexible and easy to understand," says Riaan van Dyk, managing director of Momentum Advisory Services.
"Our competitive edge depends on our ability to efficiently manage the complex relationships between the investors, the various funds and unit-linked investments, as well as the different asset managers. We now have the technology that enables us to create multi-fund portfolios for individuals within a retirement fund, as well as manage and modify them.
"We are also able to generate daily reports if necessary so that the client has access to the valuation and distribution of his investments on a regular basis."
Smacsoft's director of business development JB Maree says the Interlink Structured Funds solution enables financial services companies to create and administer innovative investment products and provides a world-class solution for a multi manager environment.
He explained that the system allows companies to set up multi-tiered investment structures and facilitates communication and operational efficiencies between them and the asset managers. This solution also integrates the underlying asset information for reporting purposes, offering maximum transparency.
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