mFund is the settlement service provided by ASX to enable investors to buy and sell units in unlisted managed funds directly with fund managers via their Bell Direct trading account.
The service uses CHESS settlement system to automate and track the process of buying (applying for) and selling (redeeming) units in managed funds. Investors’ holdings in these funds are held electronically and can be linked to the same HIN used to hold other investments transacted through ASX, such as shares.
To find out more, download the ASX mFund fact sheet.