Finastra and Hundsun sign technology partnership to boost Chinese asset management industry.
UK-based financial technology firm, Finastra has signed a partnership with Hundsun Technologies — an affiliate of Alibaba’s Ant Financial, to co-develop and deliver a Chinese version of Finastra’s investment management software Fusion Invest.
Fusion Invest is a unified platform, with built-in automation and cloud deployment to drive greater efficiency and business agility, reducing operating costs and boosting profitability. It also enables asset managers to offer new digital capabilities to their own clients, such as on-the-go portfolio access from mobile devices to give investors real-time insight into portfolio performance.
The yet to be released for China market of Fusion Invest, will be tailored for the country’s regulatory and local requirements. It will be available to customers in mainland China, Hong Kong, Taiwan and Macau.
Hundsun owns about 80 per cent of the local investment management software market share, will license the Chinese Fusion Invest version, directly to about 100 buy-side institutions — with support from Finastra.
Eric Duffaut president and global head of field and marketing at Finastra said this comes as China in recent years has “gradually opened the asset management industry to international participation”. According to BCG — China’s Assets Under Management will see a compound annual growth rate of 11 per cent to 15 per cent between 2018 and 2025. This is compared to a more conservative global annual growth rate of six per cent.
“China’s regulators have taken numerous steps in recent years to open up the asset management industry to international participation. Combined with the country’s rapid growth in personal wealth, it offers enormous potential,” he said. “Our partnership will enable asset managers to benefit from a solution that is internationally open but localised for China’s unique regulatory and local requirements. It enables us to expand our technology even further into this important growing market.”
Fusion Invest already empowers hundreds of asset managers around the world, in over 35 countries, to easily diversify into more geographies and assets, helping them to improve risk-adjusted returns and create new strategies and solutions more easily.
“The scalable and unified platform has built-in automation and cloud deployment to drive greater efficiency and business agility, reducing operating costs and boosting profitability,” said Duffaut. “Fusion Invest also enables asset managers to offer new digital capabilities to their own clients, such as on-the-go portfolio access from mobile devices to give investors real-time insight into portfolio performance.”
