Selestia, the Old Mutual-backed fund supermarket, has signed a deal with First Software, providers ...
Selestia, the Old Mutual-backed fund supermarket, has signed a deal with First Software, providers of fund pricing information and back-office technology.
The deal means First Software will provide Selestia and its intermediary users with their daily listing of fund values, which it collates from all the fund groups, by the end of the month.
Bill Vasilieff, marketing director of Selestia, said: 'We will have a daily download of all the fund values and consolidate them into one place from 25 April.'
Selestia is also adding a new tool, TrustSelector, to its online offering this week. TrustSelector will comprise a decision tree, which, after a series of 'yes' or 'no' questions, will point the intermediary to a suitable fund for his or her client. After coming to a decision, the application form can then be signed off by the client, speeding up the advisory process. The fund selection tool was developed with US-based software developer, Technical Connections, and is free to registered users.
Vasilieff confirmed Selestia is in discussions with the four Cofunds shareholders, M&G, Threadneedle, Jupiter and Gartmore, after their multilateral decision to forego extending their exclusivity agreement regarding the groups' presence on rival supermarkets.
Selestia's onshore and offshore bond wrappers are on track to be launched in late May, added Vasilieff.
The technology tie-up between Selestia and First Software comes as a website aimed at retail and professional investors focusing entirely on bond funds has been launched as a co-venture by Lipper and fund provider Aberdeen Asset Management.
The site, at www.bondfundsonline.co.uk, offers advisers and the general public access to daily updated performance data on every corporate bond unit trust and Oeic.
It also carries a comprehensive guide to bonds, a glossary of terms and monthly market commentary from Aberdeen's bond team.
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