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iFAST To Rename ING Platform Services After Acquisition
May 12, 2009

Following its acquisition of ING Platform Services Limited (IPS), iFAST Corporation Pte Limited (iFAST Corp), the holding company of iFAST Financial (HK) Limited and Fundsupermart HK, announced today that IPS would be renamed as iFAST Platform Services (HK) Limited with effect from 12 May 2009.


Author : iFAST



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12 May 2009 – Following its acquisition of ING Platform Services Limited (“IPS”), iFAST Corporation Pte Limited (“iFAST Corp”), the holding company of iFAST Financial (HK) Limited and Fundsupermart HK, announced today that IPS would be renamed as iFAST Platform Services (HK) Limited with effect from 12 May 2009. “iFAST Platform Services (HK) Limited (or previously known as “ING Platform Services Limited”) is the platform service provider of I-WRAP/Private Portfolio Service in Hong Kong and Singapore. I-WRAP is a service for financial advisers to integrate their investors’ transaction recordings, account keepings and valuation reporting services in a wrap account.

The CEO and chairman of iFAST Corp, Mr Lim Chung Chun, said: “This is an exciting milestone for our company. With the acquisition, iFAST will provide retail and institutional customers with a wider range of products and efficient services designed to meet their current and future needs. Our combined teams will create substantial growth opportunities for the mutual fund industry, our customers and our employees.”

With its dedicated team of 15 account management professionals, iFAST aims to bring best practices from various regions to help the IFAs to grow their business and build lasting relationships with their clients. The services that iFAST provide will empower IFAs to transit from the traditional transaction-based business model into one that enables them to earn recurrent income. Tapping on iFAST platform capabilities, IFAs will be able to advise clients with a more diverse variety of asset classes, a wider range of funds and currencies. Meanwhile, investors will benefit from the integrated wealth management platform through receiving consolidated account statements and operational efficiency.

iFAST Corp was established in January 2000 and is now the holding company for its subsidiaries in Asia, including iFAST Financial Pte Ltd - Singapore’s leading provider of investment administration platform for IFAs and the largest online unit trust distributor.

iFAST launched its Hong Kong B2C (Fundsupermart.com) and B2B businesses in July 2007 and July 2008 respectively through iFAST Financial (HK) Limited. iFAST Corp is also present in Malaysia, with the launch of the two B2C and B2B platforms in 2008. In April 2009, iFAST Corp expanded its business to India.

More about iFAST Corp

iFAST Corp’s two main corporate shareholders are: SPH AsiaOne Pte Ltd (the Internet arm of Singapore Press Holdings) and DMG & Partners Securities Pte Ltd (51% owned by OSK Investment Bank Bhd of Malaysia and 49% associate of Deutsche Bank).

For more information on iFAST Corp, please visit www.ifastcorp.com.


iFAST and/or its content and research team’s licensed representatives may own or have positions in the mutual funds of any of the Asset Management Company mentioned or referred to in the article, and may from time to time add or dispose of, or be materially interested in any such. This article is not to be construed as an offer or solicitation for the subscription, purchase or sale of any mutual fund. No investment decision should be taken without first viewing a mutual fund's offer document/scheme additional information/scheme information document. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Investors should seek for professional investment, tax, and legal advice before making an investment or any other decision. Past performance and any forecast is not necessarily indicative of the future or likely performance of the mutual fund. The value of mutual funds and the income from them may fall as well as rise. Opinions expressed herein are subject to change without notice. Please read our disclaimer in the website.

 


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