Euroclear UK & Ireland and IFDS strengthen investmentfund processing

(lifePR) (London, ) Euroclear UK & Ireland (EUI) and International Financial Data Services (IFDS) today announce that IFDS, a leading transfer agency service provider, will use EUI to process its clients' investment fund transactions. For the first time, the IFDS fund management community of users will be able to benefit from EUI's fully automated services for the settlement of fund units and applicable cash movements.

Yannic Weber, CEO of Euroclear UK & Ireland, said: "We are delighted to be working with IFDS and extend an industry-designed solution for funds processing to their clients. Thanks to the great deal of support from the distribution community, coupled with the strong representation of IFDS clients in the UK market, we believe this is evidence of a solid value proposition. The system we have developed provides counterparties with the certainty they need regarding movement of not just the cash on intended settlement date, but also that the fund unit positions are updated in the register in parallel."

Matthew Brown, Chief Administration Officer at IFDS, commented: "We continually look at ways to improve operational efficiency in the services we provide in all areas of transaction processing. We support initiatives that automate and standardise processes that help to lower cost and risk. IFDS is pleased to be working with Euroclear UK & Ireland in this regard, helping our users to settle fund transactions using an automated solution."

Gary O'Brien, Investment Support at Old Mutual Asset Managers UK (OMAM), commented: "We are committed to working with our operational partners in the development of solutions in order to improve the efficiency of the transaction process. OMAM is pleased to be working with IFDS and Euroclear UK & Ireland in this development which will benefit both our clients and us."

IFDS provides administration and technology solutions to over 50 percent of the UK asset management market. IFDS clients include:

Artemis Fund Managers
Aviva Investors Fund Services
F&C Fund Management
Gartmore Fund Managers
Henderson Global Investors
IFDS Managers
Jupiter Unit Trust Managers
Liverpool Victoria Portfolio Managers
Martin Currie Unit Trusts
M&G Investments
Neptune Investment Management
Old Mutual Fund Managers
Rathbone Unit Trust Management
Royal London Unit Trust Managers
Schroder Investments

International Financial Data Services ("IFDS"):

Is a 50/50 joint venture between affiliates of Boston-based State Street Corporation, the world's leading provider of services to institutional investors, and DST Systems Inc., a Kansas City, Missouri-based leading provider of shareholder accounting services and proprietary systems.

IFDS is today recognised as the world's leading provider of investor record keeping, wealth management and transfer agency solutions on a BPO (Business Process Outsourcing) and ASP (Application Service Provision) basis. IFDS' services are provided to a wide range of global collective investment, wealth management and platform clients, supporting over 17 million accounts for over 200 organisations, over 5,000 funds and with over 3,000 experienced staff based in four locations (Canada, Ireland, Luxembourg & United Kingdom). Figures as September 30, 2010.

State Street Corporation:

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $19 trillion in assets under custody and administration and $1.8 trillion in assets under management at September 30, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide.

DST Systems, Inc.:

DST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST's world-class data centers provide technology infrastructure support for mutual fund companies, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, Missouri, and is a publicly traded company on the New York Stock Exchange.

For more information visit the International Financial web site ifdsgroup.com
or State Street's web site statestreet.com
or DST Systems web site dstsystems.com
or DST Global Solutions web site dstglobalsolutions.com

Kontakt

Euroclear UK & Ireland
33 Cannon Street
-EC4M 5 London
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