International Financial Data Services (IFDS), the international transfer agency joint venture between State Street Corporation and DST Systems, Inc., announced that it had been awarded the mandate to administer the Unit Trust and ISA fund range of Liontrust Asset Management PLC, the specialist independent fund management group with total assets under management of over £1,547 million as at 27 March 2012. IFDS will manage the TA for around £1,098 million of assets.
Liontrust migrated its investor record-keeping and transfer agency to IFDS at the end of January 2012 on a full-service basis, including servicing of distributors and financial institutions, along with investor and adviser call centre support for its UK range of funds.
The IFDS group of companies, along with State Street, provides market-leading transfer agency, wealth management and investor record-keeping solutions for a wide range of institutions, distributors, advisors and investors in Australia, Austria, Canada, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Singapore, Switzerland, the UK and the US.
Vinay Abrol, Chief Operating Officer & Chief Financial Officer, Liontrust, commented: "The transition has been a great success and involved extensive effort and planning by everyone involved to complete on time. We are excited about our new relationship with IFDS and we look forward to working with them to deliver exemplary levels of service to our clients, advisors and distributors."
Simon Hudson-Lund, Chief Executive Officer, IFDS, commented: "We are delighted to welcome the Liontrust business to IFDS. Liontrust will now be able to leverage our award winning range of investor, advisor and distributor servicing solutions as they expand and develop their fund business"