International Financial Data Services (IFDS), the international transfer agency joint venture between State Street Corporation and DST Systems, Inc., announced today that it has successfully completed the conversion and outsourcing of the GLG UK regulated fund range.
GLG is a leading global investment manager offering a comprehensive range of alternative, traditional long-only and hybrid investment products. GLG is a division of the Man Group.
Man Group has outsourced the GLG investor record-keeping and transfer agency functions for its UK regulated funds to IFDS on a full-service basis, including servicing of distributors, platforms and financial institutions, along with the investor and adviser call centre for their UK range of funds. "The decision to outsource this book of business falls in line with our overall strategic plan to deliver a robust outsourcing model for all full Man and GLG Product ranges. IFDS will be a great relationship for us to take the business forward given their presence in the UK market. We are very pleased to be working with them on this initiative" said Simon White, Global Head of Product and Client Operations at Man Group.
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, Luxembourg, Singapore, Switzerland, the UK and the US.
"We are delighted to be working with the Man Group to provide our market leading and award winning transfer agency services on behalf of their GLG fund range. The decision to outsource to IFDS further demonstrates to the market that we are the provider of choice when it comes to institutional and retail transfer agency services in the European market place." said Simon Hudson-Lund, Chief Executive Officer at IFDS.