design, development and implementation of a fund processing system
for a bank leading in International Securities Settlement.
The international fund market can be defined as the market for
investment funds that are distributed outside their markets of domicile.
Only domestic funds that are not distributed cross-border are excluded
from the international fund market.
Although vast and growing rapidly, the international market for
investment funds is relatively underdeveloped in terms of infrastructure,
standards and procedures for processing cross-border business.
The entire fund market consists of approximately 40,000 different
funds, with a total asset value of 7,633 billion USD at the end
of 1997. Fund markets everywhere have enjoyed significant growth,
which is likely to continue in the future. One of the key drivers
of this growth is the publics mistrust in public pension schemes,
which has resulted in more people creating their own retirement
plans. Since investment funds are relatively low risk, they are
ideal as long-term savings vehicles.