14th April 2014

FundsNetwork launches Fund Availability Tool

As all new business now needs to be written into clean share classes , the newly launched FundsNetwork tool is designed to help advisers easily identify which share classes on the platform are open to new investment, which are closed to new money and, where closed, whether an alternative clean share class of the same fund is available. 

The launch of the Fund Availability Tool follows on from the enhancements made to the FundsNetwork re-registration process and online service introduced in March earlier this year:

• Where assets within a bundled share class are re-registered on to the platform, FundsNetwork will automatically switch the investment into a clean share class of the same fund, where one is available.
• An automatic switch may also be applied when a client is re-registering a clean share class but the share class available on FundsNetwork offers lower fund charges.
• Enhancements to FundsNetwork’s online re-registration service to guide advisers through the new process and, importantly, generate the pre-sale disclosure material for their clients.

Commenting on the launch of the Fund Availability Tool, Jon Everill, Head of Advisory Services at FundsNetwork said: 

“The tool was specifically designed to support advisers through this period of change. It provides advisers with a straightforward and simple way to check the availability of funds and alternative share classes on the FundsNetwork platform.”

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