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 our platform and expertise are suitable challengers 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.”
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