Invesco Perpetual Go Live With Global Transfer Agency Platform Supplied By MFT

Fund managers INVESCO PERPETUAL have migrated their transfer agency business onto the Global Fund Administration System (GFAS) developed by Mutual Fund Technologies (MFT), the Fidelity owned supplier of fund administration and transfer agency platforms. This follows a decision at the

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Fund managers INVESCO PERPETUAL have migrated their transfer agency business onto the Global Fund Administration System (GFAS) developed by Mutual Fund Technologies (MFT), the Fidelity-owned supplier of fund administration and transfer agency platforms.

This follows a decision at the beginning of the year by INVESCO PERPETUAL to merge its onshore and offshore operations onto a single global platform. “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,” says Anthony Myers, Global Chief Operating Officer at INVESCO. “The successful implementation is a credit to the INVESCO and MFT staff working in tandem. By migrating our transfer agency system needs to GFAS, our company can focus its IT investment and resources into areas where genuine and competitive added value can be delivered to the marketplace”.

The five year deal, which MFT says is one of the largest transfer agency system contracts of its kind, will see INVESCO’s usage of GFAS extend to over 10 countries worldwide. The move now means that over 7 million holdings are serviced by GFAS, including the two largest fund management groups in the UK (Fidelity and INVESCO PERPETUAL), as well as FundsNetwork, one of the leading mutual fund supermarkets in the UK. “We are delighted that INVESCO has now gone live with GFAS across its global operation,” says Bob Milotte, Managing Director of Mutual Fund Technologies. “The project has been a great success for both of our companies. I look forward to a long and successful partnership as we strive to ensure that INVESCO are able to realise the true benefits of having a single system for their global operations.”

GFAS is described by MFT as a multi currency, multi product, multi-country transfer agency and record keeping system, which combines call centre and workflow technologies with straight-through processing and foreign exchange capabilities on a global scale.

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