FundExpress is a data switch that offers business efficiencies for managed fund industry participants that either distribute or receive datafiles regularly in the course of their business. new server

On 1st October 2007, the PIE regime commenced in New Zealand.  PIEs are Portfolio Investment Entities, a class of managed fund that includes many KiwiSaver funds.

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FundExpress – a service outline:

FundExpress is a data service to assist the transfer of the required fund, tax and investor data points quickly and efficiently between PIE data providers and recipients (users of the data) including Portfolio Investor Proxies (PIPs) under the PIE tax regime.

FundExpress is designed to give participants the low cost of ownership, rapid implementation and ease of maintenance that only a true multi-tenant ‘software-as-a-service’ application can provide. InvestmentLink NZ is an established provider of such IT infrastructure services for financial services clients in NZ.

What data is transferred? The full data set for transfer to PIPs is 30 mandatory data fields, and 10 optional data fields, containing the following categories of information:

  • investor identifiers and fund unit balances.
  • fund identifiers, unit prices and total units on issue.
  • fund tax information and tax components.

A reduced data set for fund providers to easily transfer daily price data to market research companies is also included. Who are the users of FundExpress?

  • Fund managers – the data providers.
  • Portfolio investor proxies and investment intermediaries generally - the data recipients.
  • Market research companies - fund unit price recipients.