Bravura Solutions’ Garradin ready to administer government retail bonds
Sydney, 19 November 2012 – Bravura Solutions Limited (Bravura) is pleased to announce that its private wealth application Garradin now includes Australian government bond trading functionality for retail investors.
The federal government passed legislation on Thursday, 1 November 2012 which allows Commonwealth Government Securities (CGSs) to be traded on the retail market, rather than purely by institutional investors, which had previously been the case.
Treasurer Wayne Swan explained that opening up CGSs to the retail market would provide a low-risk way for retail investors to familiarise themselves with fixed-interest securities as an asset class. “It will help to harness our national superannuation savings so we can domestically fund more productive investment in our economy”, Swan said.
Darren Speirs, Head of Portfolio Solutions at Bravura said, “Investment administrators and platform providers catering to the retail market, especially those providing services to the rapidly growing SMSF sector, will need to ensure their software can support a broad range of assets, including Commonwealth Government Securities. Garradin can provide this functionality now”.
Garradin is a comprehensive, multi-currency investment management system with integrated asset management, registry and tax management functions. It is a single, fully modular system that can be deployed across multiple sectors.
Bravura’s Head of Portfolio Solutions, Darren Speirs was quoted in this press release. To ask Darren a question regarding the release or to discuss it in more detail, email PR@bravurasolutions.com