top of page

Falling dominoes or just an unfortunate event?

Dominoes falling is an analogy sometimes used in businesses to describe the cumulative effect produced when one event sets off a series of similar or related events, a form of chain reaction. Unlike the dominoes game, these events can take time to emerge.

The decision by Fisher Funds Management (FFM) to transfer their unit registry requirements to Apex from Trustees Executors (TE) may well be an inflection point for outsourced administration in New Zealand. Read the article here

Losing a large client is disappointing for any business and in the absence of securing a new client(s) of equal value, or additional revenue from other avenues, there can be a series of flow on impacts. These may include:

  • Existing clients may become unsettled and are more open to examining their options. This can be an opportunity for both parties to negotiate alternate or more favourable terms

  • Bravura, the provider of TE’s core registry system, Sonata, will be alert to the impact that FFM’s decision may have for their business

  • APEX, already the dominant outsourced provider of fund administration services in New Zealand, will have an “abundance of riches” whose resources may be tested with not only transitioning the FFM business, but potentially others. The potential impact for their existing clients is unknown


For New Zealand fund managers and KiwiSaver providers, it is fair to say the risk of a market oligopoly emerging is increasing considerably.  With limited competition, fund managers and their members may end up literally paying the price, through declining service levels as well as unfavourable pricing. First domino or not, the importance of access to financially secure and expert providers of fund administration services has never been as important as the coming 12-18 months.

The Fund Alliance is working closely with high quality businesses to bring these solutions to the New Zealand marketplace. We will provide dates for our next roadshow shortly. Of course, please contact us directly for any assistance or query you may have in the meantime.


Important note: The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. The contents of this document may not be reproduced without the express permission of The Fund Alliance. The Fund Alliance is not liable for any action taken as a result of this document.

8 views0 comments

Recent Posts

See All


bottom of page