IFDS, the State Street-DST joint venture in fund administration, says Royal London Unit Trust Managers Limited is now client. IFDS is providing a shared administration service for the Royal London UK retail unit trust fund range.
“The conversion to IFDS is the culmination of a fundamental review of our unit trust service delivery model, designed to increase efficiency and support multiple distribution channels,” says Richard James, head of operations at Royal London Asset Management. “IFDS’ unique shared service allows us to manage crucial intermediary contact through an in-house team, while outsourcing other activities.”
Paul O’Neil, managing director UK of IFDS, added: “We are extremely pleased to have converted the Royal London range of UK-based funds. Royal London has a reputation as a provider of the highest quality service to its investors and advisors, and the decision to outsource its administration to IFDS is further proof that we are the leading provider of services and systems to the UK market. My colleagues at IFDS and I look forward to working with the Royal London team.”