Abbey National for Intermediaries is using Cor Investment Solutions' (Cor-IS) retail investment administration platform, Co-Stars, to manage its new multi manager funds business.
Abbey National first implemented Co-Stars in 2001. Cor-IS says the launch of the Abbey National Multi Manager on Co-Stars has involved new features being added to the platform, including the provision for regular withdrawals and an automatic regular annual ISA investment function.
The initial phase of the project is now live and the vendor says further features, such as a comprehensive straight-through processing (STP) Web-based solution, will follow in Q1 2004.
John McGrory, Abbey National Financial Services, says the launch of the Multi Manager OEIC "has called upon Cor's proven ability to deliver innovative products upon Co-Stars whilst demonstrating the speed to market."
The new Abbey National Multi-Manager will invest in a range of new sub-funds together with the existing suite of Inscape Investment Fund sub-funds.