International Financial Data Services (IFDS), the international transfer agency joint venture between State Street Corporation and DST Systems, announced today that it has successfully converted and gone live with the remaining funds for Aviva Investors UK domiciled fund range.
This is the final stage of transition of a complete range of UK domiciled collective investment funds and structured products.
Aviva Investors has outsourced its investor record keeping and transfer agency to IFDS on a full-service basis, including servicing of distributors and financial institutions, along with the investor and adviser call centre for its UK range of funds and structured products. The arrangement also covers servicing of the joint venture with The Royal Bank of Scotland.
IFDS provides market-leading service and technology solutions for distributors, advisors and investors in Canada, Ireland, Luxembourg and the UK, as well as to the U.S. market via Boston Financial Data Services.
John Clougherty, Chief Executive, Aviva Investors UK Fund Services Limited: "We are very pleased with the transfer of our client administration to IFDS. This was one of the largest migrations in the industry and has been completed on time. We expect that outsourcing our client service and transfer agency will result in better client service and reduce costs. It is another significant step in building our position as a leading retail investment manager in the UK market. We have aggressive plans to grow market share in the UK and I am confident that in IFDS we have chosen a service provider capable of supporting this ambition."
Simon Hudson-Lund, Chief Executive Officer - IFDS, commented: "We are very pleased to have completed the transition of the Aviva books of business into IFDS. We are committed to providing our clients with high levels of administration services and customer support. The decision by Aviva to outsource on a full service basis to IFDS is testament that we are the leading provider of services in the transfer agency market."