Natixis Asset Management, a leading affiliate of Natixis Global Asset Management announced today it started testing the FundsDLT blockchain-powered platform for fund managers
The FundsDLT concept, announced to the market last December in Luxembourg, is the result of collaboration between Fundsquare, InTech (subsidiary of POST Group) and KPMG Luxembourg. The platform will enable asset managers to sell funds through a new distribution channel, while significantly reducing administration costs and the time to process transactions. FundsDLT streamlines a range of fund administration and order-routing tasks by using blockchain to automate several processes in a secure manner. The model is applicable to a wide range of funds and does not depend on the jurisdiction.
Matthieu Duncan, CEO of Natixis Asset Management is enthusiastic about the project:
“We are delighted to be among the first Asset managers to test the FundsDLT platform. The initiative is truly unique and we see it as a natural development that will certainly impact our operational models and benefit our clients. Blockchain technology, which Natixis is looking into across several of its business lines, shows great opportunities in terms of enhancing distribution mechanisms in the asset management industry.”
Said Fihri of KPMG Luxembourg explained:
“We are proud we’ve attracted many prominent players of the fund industry to test FundsDLT. This provides us with confirmation that the platform, which draws on our expertise, is a suitable challenger in the field of blockchain. More actors are coming on board and we expect to make additional announcements in the coming weeks. We can’t wait to see the results in June when the test phase will be complete.”
Fabrice Croiseaux, CEO of InTech added:
“By using state of the art technologies, a combination of blockchain and reactive platform, it took less than a year to build a scalable and resilient decentralized solution dedicated to the fund industry. We are proud of what has been done and look forward to testing how far we can go in terms of performance.”
FundsDLT was designed to be a market infrastructure solution of the future that will meet the needs of both asset managers and international distributors while facilitating the digital transformation of the funds distribution industry.
Olivier Portenseigne of Fundsquare concluded:
“FundsDLT is a great opportunity to support the Asset Management industry in its Digital Transformation, and blockchain will play a significant role as an enabler to create complementary and alternative distribution channels and ways of operating. It was time to start a concrete project and we believe we took the right approach to develop a new infrastructure with the Fund Industry ecosystem.”
Natixis Asset Management is a leading Europe-based asset manager running €358 billion ($399 billion) of assets as of 31 March 2017 on behalf of institutional and retail clients. Natixis Asset Management help investors address their needs through their broad capabilities in fixed income, mixed assets, differentiated equities (active quantitative / risk-managed, thematic and conviction-driven) and alternative solutions.
The firm has a global presence, with research and investment capabilities on the ground in Europe, the US and Asia. As of 31 March 2017 Natixis Asset Management had 699 employees. Natixis Asset Management’s broad investment offering is made available to investors around the world through Natixis Global Asset Management’s global distribution platform. Natixis Asset Management also designs products and services tailored to the client base of Groupe BPCE, thesecond-largest banking group in France.
Further information: www.nam.natixis.com
InTech is an IT company providing consulting and expertise in information technology. With more than 100 engineers, InTech helps their customers to create innovative services thru the use of emerging technologies and works on blockchain since 2013. InTech is a POST Luxembourg Group. More info at: http://www.intech.lu/
KPMG in Luxembourg provides a full range of audit, tax and advisory services to major national and international clients active in the financial, insurance, commercial and industrial sectors.
With more than 1,500 people, KPMG in Luxembourg is one of the country’s leading audit, tax and advisory firms. Our approach to relationships and service delivery is designed to help clients exploit new opportunities, improve performance and manage risk.
Fundsquare was constituted in June 2013 and was set up by the Luxembourg Stock Exchange in order to create a unique international market infrastructure that provides services to substantially support and standardise cross-border distribution of investment funds. The main objective of this utility is to facilitate the relationships between professional investors and funds and to allow them to meet current and future challenges of cross-border distribution. It provides a flexible and responsive infrastructure to enable operational effectiveness across the entire distribution chain. Fundsquare offers unique solutions for order routing management, information and regulatory compliance.
More information at: www.fundsquare.net
Tel: +352 22 51 51 2903
© 2020 KPMG Luxembourg, Société coopérative, a Luxembourg entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.