10 June, 2019

Pie Funds transition remaining business to MMC

Having launched their JUNO KiwiSaver Scheme in August last year with MMC as their administrator, just ten months later Pie Funds have moved their remaining administration and custody business from Trustees Executors to MMC.

MMC’s CEO, Tom Reiher, commented “we are thrilled to have successfully transitioned Pie Funds Unit Trusts to MMC. The three month project to move the ten funds, $1bn in FUM and over 2,200 investor accounts has gone incredibly well and we are excited that we can provide Pie investors with the same client experience as their JUNO members. Our strengthened relationship with Pie Funds reinforces our strategic direction at MMC – utilising our in-house technology to provide administration and infrastructure to our clients to enable them to better meet their client’s needs.”

“Choosing MMC for our JUNO KiwiSaver Scheme last August means we have provided our KiwiSaver members with modern, efficient access to accurate information about their retirement savings,” says Pie Funds COO / CFO Lance Jones. “Seeing those advantages meant we were comfortable shifting our Pie investors. We look forward to an enhanced investor experience and better reporting for them too, plus potentially adding new features to our online client systems to benefit everyone who invests with Pie and JUNO.”

“We would like to thank our supervisor and our previous administrator for their support. And we are grateful to the project team at MMC who have dedicated considerable time and effort to making this transition as well planned, and smoothly executed, as possible.”

This latest transition takes MMC to over $50bn in FUA across 28 clients and for over 145,000 investors and members. Their services include fund accounting / unit pricing, custody and registry.