mFund sees adviser support

Contrary to initial expectations, it would seem that the ASX’s mFund platform is seeing more activity from advisers rather than self managed superannuation funds directly. Ian Irvine, head of customer and business development at the ASX, told the AFR in an interview that “around 60% of the uptake is adviser-led and on behalf of SMSF clients. We think that’s due to the larger transactions sizes and the desire for diversification”. mFund allows investors to apply for and redeem units in managed funds via the ASX and in the past 12 months the average transaction size has been around $50,000.