SGSS in Italy launches Synapse, a new service to support fund distribution

Through a sub-distribution agreement with Banca Ifigest, institutional clients (Banks, SIM, Investment Companies and SGR) will henceforth benefit from SGSS S.p.A.’s local transfer agent services when investing in a selection of 5,000 mutual funds and SICAV available on Fundstore.it, Banca Ifigest’s fund platform which offers the widest on-line range of OICR in Italy.

SYNAPSE was created to help connect the main players in the investment fund industry and facilitate fund access in Italy. Through this new service, a broad network of multiple counterparties has been made easier, simpler and quicker through:

• a single representative for retention commissions,
• a paying agent for instructions of underwritings, refunds and transfers,
• an on-line fund platform for supervising all on-line activities,
• the integration of the main Services Centers.