Forsyth Barr transition registry to MMC

MMC have successfully completed the transition of Forsyth Barr’s unit registry late last week. This involved the import of over 3,000 beneficiaries and 250,000 transactions.

“MMC have been providing Forsyth Barr with fund accounting and unit pricing services since late 2007,” says Jim Hawker, CFO of Forsyth Barr. “Historically we have undertaken the registry function inhouse but we had come to a point in time where we needed to reinvest in our registry systems. We decided that the best result would be to outsource this to MMC as well. Having experienced such great service from MMC, to move the registry for our six retail investment funds was an easy decision.”

Tom Reiher, MMC Limited’s CEO, says “We are excited that we can broaden our relationship with Forsyth Barr to provide registry services. Over the past twelve years we have worked alongside their team providing them with daily valuations and prices, monthly performance, various reporting and annual financial statements. Expanding our offering to Forsyth Barr is in line with our strategic direction, helping our clients reach both their strategy and their growth. We are focused on investing in our technology to provide a range of service options, putting our clients’ requirements first with flexible platforms and process efficiencies.”

MMC have 28 clients with funds under administration of in excess of NZ$58bn, providing fund administration services for over 260 investment funds and registry services for over 160,000 underlying investors.