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M&G to make funds as easy to trade as shares in landmark Crest deal

by Emma Dunkley on Feb 08, 2013 at 08:05

Furthermore, once the funds are registered on Crest, they can be moved between investors almost immediately, allowing for automatic re-registration.

As M&G is one of the biggest fund groups in the UK, managing over £200 billion as of last September, the move sets a precedent for fund providers and opens the way for other large groups that have expressed interest in the electronic settlement process.

M&G was unable to comment.

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4 comments so far. Why not have your say?

Not all ETF's are the same

Feb 08, 2013 at 08:25

This is excellent news, and long needed. The mutual fund industry is massive and ultimately clients should benefit through improved administration, quicker settlement, lower costs and better transparency.

Let's hope this is the start of many. Well done M&G

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Andy Y

Feb 08, 2013 at 10:52

This might be a stupid question but this wouldn't mean a move towards having the same cost of trading shares?

I much prefer the fact that most platforms allow me to switch OEICs/UTs for free whereas it costs between £6-£15 to switch shares and ITs. I'm willing to accept a 2/3 day delay for free switches!

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Alan Beaney

Feb 08, 2013 at 12:13

Good news however that only solves one of the problems as a centralised dealing platform is also required. I think the latter may be a long time coming given the vested interest involved!

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Pre-funding via mobile

Feb 10, 2013 at 20:45

Sounds very interesting, as there is a cost for dealing shares I'm assuming the crest versions will have reduced TERs to counter the cost of free switching via most trading platforms?

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