IFDS, the transfer agency and hosted authorised corporate director joint venture between State Street and DST Systems, is to provide a range of service solutions to support the launch of Russell Investments into the UK market.
Russell Investments will use IFDS Managers’ hosted ACD services, designed to support both new entrants to the UK market, as well as established fund ranges.
Clients of the service gain access to IFDS’ transfer agency administration services and technology platforms, combined with the fund accounting and custody services of State Street.
IFDS Managers launched in June 2008 and has grown to support a total of 13 sponsor organisations and over GBP1.3bn of assets.
Peter Hugh Smith, managing director, UK private client services of Russell Investments, says: “IFDS Managers have been extremely supportive of the development of our new fund range tailored for the UK IFA market as part of our Helping Advisers concept. The hosted ACD service offered by IFDS allowed us to build a new range of UK domiciled funds quickly and efficiently. We look forward to building our business in the UK with the continued support of IFDS as a valued service provider.”
Matthew Brown, business development director of IFDS, adds: “We are pleased to be appointed by Russell Investments to support their entry to the UK market and to expand our existing remit and relationship. This business relationship is further evidence of the value of an efficient hosted fund management solution and the support provided to businesses when entering a new market. We look forward to extending our market leading range to Russell Investments, its distributors and clients.”