Wind down and closure of the ASX Managed Fund Settlement Service (mFund)

Since launching mFund, there has been a notable shift in investor interest regarding unlisted managed funds which has coincided with a growing demand for Exchange Traded Funds (ETFs). 

The market for ETFs has been, and continues to be, strong and the evolution of Active ETFs in recent years has provided a new opportunity for fund managers to bring their open-ended active products to ASX. We will continue to focus on the growing ETF market.

Ownership and status of the existing mFund holdings in CHESS remain unchanged as a result of the decision to wind down and close mFund.  As funds are withdrawn from the mFund service, investors will have their mFund holdings converted from being broker sponsored to being held directly with the fund manager.

ASX will work together with brokers, unit registries and fund managers to support an orderly wind down of the service which will include a timetable for the withdrawal of funds from the mFund platform.  Further information will be made available to investors via their brokers and/or fund managers as arrangements are finalised.

mFund will remain available for applications and redemptions (via your broker) until further notice.

Please contact your broker for further information concering their business arrangements regarding mFund going forward.

After a period of engagement with the industry, ASX will share the plans to achieve an orderly wind down of the service with brokers and fund managers, who will manage any communications with their customers (investors) to help them through this transition. 

ASX intends to engage with brokers, registries and fund managers to support an orderly wind down of the service. Further information from your fund manger will be available in due course, which will include instructions on how to manage your holdings after the service closure.