Specialist agribusiness manager Rewards Group Ltd has teamed up with listed Perth company APA Financial Services Ltd to develop a suite of platform reporting capabilities for Rewards' investment products.
More than 7,000 'growers' have invested in Rewards agribusiness projects, making the unlisted West Perth company one of the larger players in the managed investment scheme sector.
Managing director Craig Anderson said some of its advisers and clients had been seeking an efficient, effective asset administration solution to help them manage their agribusiness invetsments.
"We chose to partner with APA in developing our solution because of their existing technological capacity to administer agribusiness products, their strong understanding of taxation treatment of alternative investments and their clear focus on building a complete sophisticated financial reporting service to meet the needs of sophisticated clients."
The companies will co-develop an integrated investment recording and reporting delivery of Rewards products through the web-enabled APA proprietary platform software.
APA Managing Director, Paul Malcolm, said "The development would result in Rewards Group clients, and their Advisers, being able to access accounting, taxation, performance, management and other critical decision making and compliance reporting information on-line through the APA platform".
The solution is anticipated to be available prior to 30 June 2008.
