“The strength of our existing relationship with RBC Dexia was evident and with a Thai specific transfer agency platform now in place, RBC Dexia can provide Aberdeen with consolidated business data across the Asia-Pacific region and potentially open doors around the world,” says Matthew Yong, head of investor services, Asia-Pacific, Aberdeen Asset Management Asia Limited.  "Throughout the tenure of this process, RBC Dexia’s level of commitment and collaborative approach were crucial to the success of this unique project, particularly given the complexities of the Thai funds industry,"

 

For the successful implementation of this platform, some of the most complex TA developments in the global marketplace were involved, including: using RBC Dexia’s proprietary transfer agency platform to manage Thai characters; using complex formulas and rounding rules based on Thailand regulations to calculate trade prices, fees and taxes and complex daily data and trade interface between RBC Dexia’s TA platform and Aberdeen.

 

For fund promoters active in the region, the lack of automation in the Asian fund market creates significant operational challenges, increased risks and costs.  It is estimated that today over 95 percent of fund orders in the region are still processed manually via faxes.  RBC Dexia is working with clients like Aberdeen to find ways to increase automation and help pioneer the way for the benefit of the global fund management community. RBC Dexia is currently the only TA  provider across the Asia Pacific region with capabilities in Thailand, Australia, Taiwan, HK and Singapore.