Types of listed products:
An mFund is an unlisted managed fund admitted for settlement under the ASX Operating Rules and available to investors through the mFund Settlement Service.
While mFunds are ‘listed’ versions of unlisted managed funds, they are not listed in the same way that shares, ETFs or ETMFs are listed. There is no trading on exchange, and you must wait for a Fund’s unit price to be stuck (generally the following business day) before learning the price at which you have bought or sold your investment.
The key benefit of mFunds is doing away with lengthy application forms.
mFund is effectively an administration service, run by the ASX, using the CHESS system to settle managed fund transactions. Its primary benefits centre on efficiency, convenience, transparency and speed when compared to paper-based applications and withdrawals.