Business
Marlborough's Investment Fund Services Ltd Enters Strategic Partnership with SS&C
Agreement creates a 'centre of excellence' for fund administration in the U.K. WINDSOR, Conn., June 24, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc.
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Agreement creates a 'centre of excellence' for fund administration in the U.K.\nWINDSOR, Conn., June 24, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced a strategic partnership with U.K. investment management and fund solutions group Marlborough.\n\n \n \n \n \n \n \n\n \nSS&C has signed a long-term agreement with Investment Fund Services Limited (IFS), which is Marlborough's authorised corporate director (ACD) and authorised fund manager (AFM) business*. Under the agreement, SS&C will provide fund accounting, middle-office and transfer agency** services for the funds for which IFS acts as ACD or AFM.\nThe funds, which have more than GBP16 billion of assets under management, include Marlborough's range of 19 funds and those operated by more than 20 other investment management companies and other financial services businesses in the U.K.\nIFS previously provided these fund administration services in-house and will concentrate on its role as ACD or AFM for the funds. This role includes taking ultimate responsibility for a fund's compliance with Financial Conduct Authority regulations and ensuring it is managed in the best interests of its investors.\nUnder the agreement, around 90 IFS staff in Bolton transferred to SS&C on June 1, 2024. They will continue working in one of Marlborough's office buildings in Bolton, which will become a 'centre of excellence' for fund administration and serve clients of both IFS and SS&C.\nThe team will use SS&C's cutting-edge technology to automate processes and increase the efficiency of fund administration operations while continuing to provide a first-class service for clients. \nRichard Goodall, CEO of Marlborough, said: \"We're very excited about this strategic partnership with a leading global player. The collaboration will further enhance the service received by IFS's clients by combining SS&C's outstanding technology with our own ACD/AFM expertise and commitment to exceptional service. We believe this agreement provides considerable long-term benefits for both the investors in these funds and the companies operating them.\n\"We have ambitious growth plans rooted in delivering first-class outcomes for investors. This partnership will enable us to continue our growth trajectory, maintaining our independence and ensuring the top-quality service our clients e...