Vanguard launches into UK market supported by IFDS and State Street
30 June 2009 | 1956 views | 0
Source: State Street
State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, and International Financial Data Services (IFDS), the international transfer agency joint venture between State Street and DST Systems, Inc., announced today that they have been appointed by Vanguard Investments UK, Limited to provide an extensive range of service solutions for its launch of a UK domiciled fund range.
State Street has been appointed to provide custody, fund accounting and depository services for the new Vanguard range of OEICs (Open Ended Investment Company). IFDS will provide a full range of integrated transfer agency services including its award winning customer call centre, as well as its specialist platform and distributor servicing solution. The solution provides a single point of contact for more than 80 platforms and large distributors as well as extensive online reporting and information for more than 1,000 IFAs via the web-based portal DistributorOnline.
IFDS provides market-leading service and technology solutions for distributors, advisors and investors in Canada, Ireland, Luxembourg and the UK, as well as via Boston Financial Data Services to the U.S. market.
Tom Rampulla, Managing Director of Vanguard Investments UK, commented:
"We are very happy that IFDS and State Street are helping implement our funds in the UK. Our clients expect the utmost in service and we are confident that they will provide this and help ensure that we are well supported in all aspects of our business. We look forward to a strong and lasting relationship with both IFDS and State Street."
Simon Hudson-Lund, Chief Executive Officer - IFDS, commented:
"I am delighted that Vanguard selected IFDS and State Street as their service providers. We have a long track record of delivering an unbeatable solution for organisations not just in the UK but around the world. We are excited about the launch of Vanguard in the UK and look forward to working with them as they grow their business."
Steve Smit, Head of Investor Services in the United Kingdom, Middle East and Africa - State Street, commented:
"State Street is proud to support the UK launch of Vanguard. Our organizations are focused on quality and the delivery of service excellence and we look forward to helping Vanguard achieve its goals for the UK business."