Subsidy for the Outsourcing of Middle and Back Office Operations
The Tokyo Metropolitan Government provides a subsidy to reduce the burden on middle and back office operations*1 and outsource those operations so that independent asset managers*2 with limited human resources can concentrate management resources on their main business.
*1 "middle office" operations take a position independent from main business (Front) to engage in matters such as risk management and fund management evaluation, and "back office" operations include the processing of trade agreements implemented by Front and calculation of net asset value of funds.
*2 An independent emerging manager registered as an investment manager (including investment manager for qualified investors) after April 1, 2018
Eligible expenses for the subsidy
Expenses related to outsourcing middle and back office operations to "Qualified Outsourcing Providers, etc." (trust banks and BPO service providers, etc. certified by the Tokyo Metropolitan Government) or costs of system license contract with "Qualified Outsourcing Providers, etc.(※)" to reduce the burden on middle and back office operations
50% of actual expenses (up to 7 million yen(※)) per EM
(※) In case of system license contract with "Qualified Outsourcing Providers, etc. : up to 3million yen
List of Qualified Outsourcing Providers
As of April, 2021
|XNET Corporation||3rd Financial Sector||+81-3-5367-2204|
|SUMITOMO MITSUI TRUST BANK, LIMITED||Asset Services Promotion Department||+81-3-5404-3156|
|Nomura Research Institute, Ltd.||Asset Management Systems Business Department||+81-45-613-7149|
|Mitsubishi UFJ Trust and Banking Corporation||Investor Services Business Division||+81-3-6214-6522|
|State Street Trust & Banking Co., Ltd.||Relationship Management Department||+81-3-4530-7069|
|Broadridge Managed Solutions, Inc.(※)||Broadridge (Japan) Limited、Sales||+81-3-5797-8460|
|Tora Trading Services Limited(※)||Tora Trading Services K.K.||+81-3-4550-2769|
|Eze Castle Software LLC(※)||Eze Software Asia Pacific Limited||+852-3664-1101|
|JAMP Fund Process Innovation Co., Ltd.||―||+81-3-3527-3810|
|Bloomberg L.P.(※)||Financial Products||+81-3-3201-8900|
|Enfusion Ltd. LLC(※)||Enfusion APAC||+852-3892-8436|
|Refinitiv Japan K.K.(※)||Solution Sales Division||+81-3-6743-6515|
|Daiwa Institute of Research Ltd.(※)
||Financial Sector Sales Dept.
Systems Consulting Division (Ⅱ)
（※）system license contract with "Qualified Outsourcing Providers, etc.