The contract confirms GFAS as Schroders' core transfer agency system, sitting at the heart of their Luxembourg and offshore fund services operations. Schroders was keen to extend its existing six year outsourcing partnership with MFT as it expands the use of GFAS to support more of its international fund ranges and distribution channels.
It also confirms GFAS' reputation as one of Europe's most widely used commercial transfer agency platforms. Today the platform services over US$ 500 billion of funds on behalf of over 100 fund groups across 15 countries. Assets under administration have risen by 100% in the last 18 months alone.
Mr Gary Janaway, Head of Operations Schroders Fund Services Luxembourg said, "Our relationship with Mutual Fund Technologies has flourished since our initial contract was agreed in 1999. It is essential to the continued success of our business that we are able to depend on MFT to consistently delivery high quality services. We are confident that MFT will continue to do so in the future and we look forward to developing this key relationship."
Bob Milotte, Managing Director of Mutual Fund Technologies, said, "We are delighted that Schroders has decided to extend their contract with us. Over the past six years together we have built a strong and dynamic partnership which we look forward to continuing to build on in the future".