MMC, New Zealand’s leading provider of investment administration services to over 100 investment managers, product providers and investment professionals, today announce that they have reached NZ$100Bn in funds under administration (FUA).
“This is a fantastic milestone for MMC, something that has been 20 years in the making (for MMC and ex-Aegis businesses combined). This is a result of many hard-working hands and creative minds coming together to get the job done. MMC’s founders Tom Reiher and Robert Moss had a vision to invest in proprietary technology, developed especially for New Zealand conditions, so that our clients could enjoy technology that could swiftly respond to their changing needs and the regulations. We are poised to continue delivering technology innovation and operational efficiency that accelerate our clients’ success”, explains Vedran Babic, CEO at MMC.
MMC’s services have evolved from core fund administration including asset valuation, unit pricing, accounting, registry (including KiwiSaver registry) to fund custody and wealth administration. The ability to offer comprehensive services across both fund and wealth administration as well as being on track to be the largest KiwiSaver administrator have contributed to the fast growth.
Rebecca Thomas, Founder and Chief Executive Officer at Mint Asset Management, one of MMC’s foundational clients, says: “We are excited to have been part of MMC’s journey since day one. MMC have an outstanding track record of evolving their services in line with market changes or business requests; be it new regulatory requirements or accommodating the launch of a new fund. We have seen a key advantage of the software being proprietary owned and developed by MMC. This accelerates time to market for new functionality, and enables bespoke features. Most importantly, MMC have an in-depth understanding of the New Zealand investment market with all the regulations and reporting requirements that keep changing.”
“For many years, MMC have operated under the radar as the engine behind the scenes of New Zealand’s investment sector. Looking ahead, we are excited to build on the entrepreneurial “can do” spirit of our founders that still transpires throughout the organisation”, Babic adds.
“With digital technology fast becoming a key differentiator, we are well placed for our next chapter of growth. We are a cloud based business with ownership and control of our technology and offer the widest breadth of investment administration services in the country. We are also on track to start delivering digital and data insights services to further help support our clients’ investor experience. And with our recent acquisition of IFAA in Australia, we look forward to establishing a bridge for our New Zealand clients to take their products to the Australian market”, Babic elaborates.
For further information, please contact:
Christina Bendall, Chief Marketing Officer
Tel: 021 997 611
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