IFDS goes live with Old Mutual UK fund business

8 December 2008

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 converted and gone live with the Old Mutual Fund Managers (Old Mutual) UK fund business.

Old Mutual has outsourced its investor record keeping 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 OEICs.

IFDS provides market-leading service and technology solutions for distributors, advisors and investors in the UK as well as Canada, Ireland, Luxembourg and via Boston Financial Data Services to the U.S. market.

Paul Nathan, Chief Operating Officer, Old Mutual, commented: “We are delighted to be working with IFDS. As one the UK’s leading fund administrators, IFDS has a reputation for high quality operations and service platform. We look forward to working with IFDS as we manage and grow our business."

Simon Hudson-Lund, Chief Executive Officer, commented: “We are delighted to be working with Old Mutual as its administration service provider. The decision by Old Mutual to outsource its transfer agency functions to IFDS further reinforces our belief that we are the leading provider of services and systems in this ever more challenging business environment."

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