Capital markets News

DFIN, FundConnect to provide services for blockchain asset management tool TURN

funds asset management

Today the TISA Universal Reporting Network (TURN), the blockchain fund data solution, announced four value-added service providers, ACOLINDFIN,  FundConnect and Kneip.

The companies will help with data collection, validation and aggregation services for the asset managers and distribution solutions that use TURN.

TURN’s first solution is a reporting tool to enable cost data relating to mutual or investment funds to be shared with customers using a MiFID II template. ATOS developed the core solution. 

The Investing and Saving Alliance (TISA), the UK body that launched TURN, claimed that 60% of the UK asset management industry signed up for the service at launch. These included AllfundsCalastoneDeutsche Bank, Fidelity International, Link Group, MFEX and FNZ.

“Our Solution Partners, ACOLIN, DFIN, FundConnect and Kneip, will provide users with a flexible and more personalised service to better suit their needs,” said Gary Bond, CEO TURN. “This approved panel of providers will make TURN, an industry run not-for-profit, the go-to partner for the European asset management and distribution industries across Europe.”

“As a founding member of TURN, we recognise how critical it is for industry members to come together to make fund distribution more effective and to simplify how asset managers ensure compliance with the ever-changing regulatory world,” said Ulf Herbig, Head of Product at Kneip.