J.P. Morgans Investor Services business said it has renewed its outsourcing relationship with Aviva Investors.
The arrangement will see J.P. Morgan providing investment operations services, global derivative services, derivatives collateral management, fund accounting and general ledger reporting.
The renewal builds on a relationship dating back to 2004, when Aviva Investors first outsourced its back office to J.P. Morgan. The outsourcing mandate came up for renewal this year and will last for a further seven years. The extension sees J.P. Morgan providing Aviva Investors with the same services as before. The fund manager has used J.P. Morgan as custodian since 1992.
The assets under administration were 274 billion as of Sept. 30 2012.
John Hodgson, global chief operating officer at Aviva Investors said: Aviva Investors relationship with J.P. Morgan is an important one, and we are pleased to extend it. J.P. Morgans support of our business model through its flexible platform positions us well to satisfy our clients today, as well as to evolve as markets continue to change.
J.P. Morgans platform is designed to be customizable and to support a range of fund types, including alternative investments and fund managers middle and back offices.
Francis Jackson, head of Investor Services, EMEA at J.P. Morgan said, We are delighted to extend our long-standing affiliation with Aviva Investors, and are looking forward to continuing and deepening our already extensive custody relationship with them. Renewing this contract is a significant endorsement of J.P. Morgan’s capabilities and service track record.
(JDC)