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Transfers and Re-registration Market Update
The momentum is really beginning to build on the electronic transfer front with a flurry of announcements during March.  As we start the second quarter under the new RDR rules there are 29 registrations on the TeX Live Register (22 of these are using the Altus Transfer Gateway).  Not all the entrants on the register are supporting electronic transfers, just yet, and some organisations have a number of registrations covering different parts of their business. It boils down to 11 fund managers and 6 platforms executing live electronic transfers – this does include the three biggest platforms (Cofunds, Fidelity FundsNetwork and Skandia) and two of the biggest fund managers.

During the second quarter we expect to see the number of fund managers increase dramatically and the number of platforms to at least double. 


SWIFT's  Edward Glyn (Director - Funds, EMEA) comments, 'At last the re-registration initiative is really up and running. We at SWIFT are delighted to have played our part in bringing our network and the benefits of open standards to the platform industry and the end consumer. Congratulations to Altus on their growing client successes.'
Altus host 'Getting Platforms into the black' Webinar
Altus ran its most successful webinar to-date, attracting over 250 registrations on the key topic of platforms. The webinar, titled ‘Enough about Scale, it’s time for some economies: Getting Platforms into the black’, was hosted by Consultancy Director Kevin Okell and Principal Consultant Matthew Scott on the 30th January.

In this 45 minute webinar Kevin and Matthew shared their analysis of platform evolution and future direction, presented some alternative statistics and offered new ideas on efficiency improvements. Kevin also appeared in FTAdviser earlier in the month expressing some of these views in advance of the webinar.

 
The webinar is now available on the website by filling in the webinar form from here.
Luxembourg Stock Exchange co-operate with Altus on Fund Market Infrastructure
The Luxembourg Stock Exchange has announced its co-operation with Altus on the development of the market infrastructure for European investment funds.

The Luxembourg Stock Exchange is creating a market infrastructure, which will provide services to substantially support, facilitate and standardize the cross-border distribution of funds. The first step will be to cover Luxembourg and then other cross-border UCITS funds domiciled in various countries.

 
The fund market infrastructure initiative is backed by a consultation group of major international participants operating in Luxembourg, Europe’s largest investment fund centre, and include leading transfer agents and distributors involved in cross-border fund distribution. 
 
Altus Business Architecture Training
We are delighted to be offering more dates for our Financial Services focused Business Architecture training. Altus work exclusively in Financial Services, and the course content for our Business Architecture training is focused on the needs of an FS company – we use real FS examples, models and case studies to give delegates the practical experience they need for their day jobs.  

Who should attend?

The course is for intended for Business Architects and senior Business Analysts who are looking to move into the business architecture discipline.

The next available courses are London 25th – 27th June and Edinburgh on 3rd – 5th September. Additional Bath, London and Edinburgh dates are available on request. 

Click here for more details.


STP/ViaNova Update
Over the past couple of years the adoption of STP for Pension funds (aka the ViaNova market practice) has been growing progressively with some EBCs reporting up to 90% STP rates for the schemes they administer.  More recently there’s been a resurgence of activity driven by the new breed of auto-enrolment schemes and the inclusion of DB scheme investments in STP trading.  The UK Funds Corporate Pensions ViaNova Working Group have met twice this year and are working on a number of changes to the standard a head of the ISO 20022 changes that go live in November this year.   In particular, the group is looking to enhance the standard to better support bench mark asset allocation reporting to support the DB bench mark investment transactions.
 
For more info or to get involved in the ViaNova working group please contact howard.finnegan@altus.co.uk
Webinar - Corso
Altus and Corso last month completed their first ever joint webinar, â€˜Addressing regulatory change in Finance, Banking & Insurance’. Hosted by Principal Consultant at Altus, Mark Andrews and Corso's CTO,  Jamie Knowles, the webinar was a great success.
 
Topics covered included:
  •  An overview and impact analysis of some recent FS regulatory changes.
  •  Understanding how regulation can affect the business strategy.
  •  How to get an early indication of where change will impact your IT landscape.
  •  See how tooling can greatly reduce your time to assess change impacts.
You can link through to the recording of the webinar here. The next webinar will be taking place on the 26th June. Please contact us if you would be interested in receiving an invitation.

Altus go live with RTI
From 6th April this year PAYE information must be reported to HMRC in 'real time', on or before the date of each payment - this initiative is known as Real Time Information, or RTI. Altus has added RTI support to its existing solution for electronic HMRC reporting, the Altus e-filing Gateway (AeG), and the first live returns are now flowing. AeG has undergone the full HMRC accreditation tests and supports all four RTI reporting types in addition to the RTI notifications from HMRC to clients. For more information on AeG or to access our webinar 'RTI - What's it all about?' click here.
Altus at TISA
Consultancy Director Kevin Okell, next month takes part in TISA's 'Wrap Version 2 - Where now for the platform market?' event taking place on the 9th May. 
 
The seminar, held at the SWIFT offices in London, will be chaired by IFDS's David Moffat (who also chairs the TISA Wrap and Platform advisory council) and will explore the evolution of wraps and platforms post implementation of the RDR. Following on from his 'Getting Platforms into the Black' webinar, Kevin will be speaking in this session on the key drivers if platform profitability. Representatives from Ascentric, Ernst & Young, Elevate and the FSA will also be speaking on the day.

You can find further details and register for the seminar here. Altus are also sponsoring the drinks reception after the seminar so come along and have a drink with us!
Platforms stuck in cycle of losses
Top five platforms set to show hand on protection propositions?
Cover magazine

Platform market ‘may never be profitable’
Investment Week

Altus and Origo claim industry first in live and interoperable asset transfers
Finextra and IFA Online

Luxembourg Stock Exchange and Altus team on fund market infrastructure
FinextraWater technology and Real Wire

Retail platform Transfers
Global Banking & Finance Review.

Retail Platform Transfers - Good News!
Cofunds goes live with Altus
Finextra

A solution to the 'super clean' conumdrum
IFA Online
HMRC, Rebates, Share Classes and Transfers
The HMRC announcement (with two weeks’ notice) that rebates (cash or units) by fund managers to platforms are taxable from the beginning of this tax year, has sent the industry into a spin.  Will there be a proliferation of share classes with one of each platform distribution deal?  How will it affect the whole electronic transfers and re-registration project? How will consumers and their advisers cope with differences in fund prices?  Its early days and there is still a lot of details to work through, but for some of our views on what we thing the impact on the electronic transfers market, have a look at a Blog from Altus Products Director, Ben Cocks: The Bare Share Bunch 
Altus are delighted to announce that we will be exhibiting at this years AMPS Annual conference taking place on the 21st May at the Paddington Hilton in London. Register for your place here and we look forward to seeing you there on the day.
This years SWIFT Business Forum takes place on the 30th April. The forum brings together 700-plus FS professionals to explore  key challenges and opportunities facing our industry. These challenges are debated by a line-up of senior industry figures – and, new for 2013, the programme will feature streams focused on strategic and operational issues.
 
Altus will again be exhibiting at the event which takes place at the Brewery in London. Products Director, Ben Cocks, will also be speaking on the panel 'Everyone wants a piece of the pension pie. Who is going to win?' along with representatives from The Platforum, Fidelity, State Street and TISA's Malcolm Small as moderator.
 
Transfers Market Practice Standard Developments
There has also been a flurry of activity recently with the Transfers Market Practice (UKFMPG) with active participation from a wider range of industry players including, Fund Managers, Platforms, Wealth Managers, Life and Pension providers and technology suppliers. 
The transfer’s market practice will be enhanced and extended during this year to support Pension Wrappers (SIPP/SASS, GPP, PP, DC, and Section 32 etc.), wider range of asset types (UK Equities, Other Assets), Intermediate Unit Holders (fund custodians) and share class conversions.  These new capabilities will be implemented in time to support the change to the new ISO 20022 standard in November this year.

     The Bare Share Bunch
     Ben Cocks


   Can I borrow your watch?
     Chris McCullam

  
    Blue Steel or Magnum
    
Chris McCullam

    Retail Platform Transfers
    
Ben Cocks


    Sold not Bought
    
Kevin Okell


    Client Money sub-pools
    Adam Jones

    Digesting Data
    
Chris McCullam

    Should we ask questions like a 2 year old? 
                    David Henderson
Altus' Principal Consultant, Mark Andrews, will be speaking at the Enterprise Architecture Conference Europe 2013, taking place this June in London. 
 
Focusing on Business Architecture, Mark will be discussing the difference it can make, highlighting examples from different case studies. His session takes place on the afternoon of the 13th June.
 
For more information on the conference click here.
Altus, this quarter, exhibited and partook in a panel discussion at ITAS 2013 in Luxembourg.
 
Products Director, Ben Cocks, took part on the first days panel discussion 'Automation of Core processes in the Funds Industry: Where are we now and where to next?'. Ben spoke alongside representatives from SWIFT, Linedata and Bourse de Luxembourg, inciting a lively discussion on the topic. Please click here for highlights of ITAS 2013.