Mutual Fund Technologies (MFT), the transfer agency system provider owned by Fidelity, announced today that INVESCO PERPETUAL had selected its Global Fund Administration System (GFAS) to manage their UK operations.
The conversion is currently planned for September 2003 and will see INVESCO PERPETUAL move from their existing systems onto a single global platform. This will align their UK business with their offshore operations, where they are already using GFAS to service clients in 15 countries worldwide.
GFAS is a multi currency and multi product transfer agency and record keeping system, which combines sophisticated call centre and workflow technologies, with straight through processing and foreign exchange capabilities. Its unique proposition is its global nature, enabling asset managers such as INVESCO PERPETUAL to manage their global operations on a single platform.
Anthony Myers, Chief Operating Officer at INVESCO PERPETUAL said, “we chose GFAS because it will provide the company with a tried and tested global platform, enabling our staff to deliver state-of-the-art and enhanced services to our global client base.
By moving to an outsourced provider of base infrastructure technology not only is INVESCO PERPETUAL taking advantage of the best system available, but it is also able to syndicate the cost of the continued development of the system. This is part of a deliberate strategy to focus IT investment and resources into areas where genuine and competitive added value can be delivered to the marketplace”.
Bob Milotte, Managing Director of Mutual Fund Technologies said, “We are delighted that INVESCO PERPETUAL has decided to extend their use of the GFAS system into the UK. INVESCO PERPETUAL is one of a growing number of leading financial services organisations that are realising the benefits of using a single global administration platform. It now means that the two largest fund management groups in the UK will be using GFAS to manage their transfer agency operations”.