Displaying items by tag: HiPortfolio

The fax and the phone still reigns when it comes to some aspects of financial asset management. Although any delays in processing information introduce costs and risks into financial transactions one link in the chain remains steadfastly manual.

DST Global Solutions (DST GS) today confirmed that Suncorp Life, a division of Suncorp Metway, is now able to support Australia's new legislation for the Taxation of Financial Arrangements (TOFA).

DST Global Solutions today confirmed the successful completion of phase one of its Taxation of Financial Arrangements (TOFA)-ready program throughout key client sites within Australia. The enhancements to its flagship investment administration management solution, HiPortfolio, were co-developed with the company's Advanced User Group (AUG) community to prepare for the administration of the new legislation responsible for the commercial recognition of gains and losses. The initial TOFA-ready sites include members of this network of fund managers, third party administrators and custodians such as National Australia Bank, BNP Paribas Securities Services and J.P. Morgan Worldwide Securities Services Australia and New Zealand.

ING Australia has gone live with DST Global Solutions HiPortfolio® to be able to better manage its cross-investment processing. ING Australia has been an indirect user of HiPortfolio through an outsourcing provider since 2002, and is now internalising this operation. ING Australia considered several alternatives before selecting HiPortfolio. For ING Australia, the solution has the requisite functionality and it facilitates efficiencies with their licensed custodian who also uses it. The solution made for a lower-cost implementation which took place over a six month period.

Australia's leading custodian, NAB Asset Servicing, a division of National Australia Bank (NAB), has successfully implemented DST Global Solutions Investment Management Solutions' (IMS) HiPortfolio® propagation functionality for Tax and Accounting. Jointly developed by NAB and DST Global Solutions IMS, the new administration enhancement will be used at a legal entity level for one of NAB's largest superannuation fund clients in order to help optimise tax parcels and reduce the fund's tax liability.