Invesco Perpetual to outsource fund administration
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Invesco Perpetual to outsource fund administration 16 April 2012Henley-on-Thames Reporter: Georgina Lavers
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IFDS will provide fund administration to Invesco Perpetual’s fund clients from 6 June 2012.
Invesco Perpetual’s Isa clients will be given new Isa account numbers and a new correspondence address for IFDS.
Clients have also been advised to expect new Isa income payment dates and new Isa terms and conditions.
First announcing outsourcing plans in March 2011, at the time Invesco confirmed the likelihood of up to 100 redundancies in its head office in Henley-on-Thames. Invesco is now refusing comment on the job cuts.
Jupiter Asset Management closed its Kent office in the fourth quarter of 2010 after also outsourcing to IFDS.
The solutions provider, a joint venture between DST Systems and State Street, has picked up a number of high profile clients over the past year, including Charles Stanley, who parted ways with Capita Financial, and the rebranded Matterley fund range.
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