London, 31 August 2005 - International Financial Data Services (IFDS), the international transfer agency joint venture between State Street and DST, announced today that Investec has joined its eDistributor solution. The eDistributor solution is a centralised service for nominee and institutional dealing, enquiry and the provision of online reporting and downloads. Investec will retain its dealing and enquiry functions inhouse but have opted to take the online reporting and download solution which provides intermediaries and
institutions with real time reporting in respect of daily deal confirmations, reconciliation reports, valuations and distribution reports. A total of 15 IFDS fund management clients now use eDistributor.
Since 2002, IFDS has provided Investec with a wide range of record keeping services for its UK fund range.
Based in the UK, Luxembourg and Canada, IFDS provides market-leading technology and services for investor and distributor servicing for fund management and distribution companies around the world.
David Aird, Managing Director, Investec Fund Managers, said:
"At Investec we are committed to providing a first class service to our clients. We were not an early entrant to the eDistributor Service, preferring instead to work with IFDS on a split model and opting for a fully internet-enabled reporting solution that delivered significant improvements for our key intermediary clients and our own back office processes. As soon as the eDistributor Reporting had been delivered and we were convinced of the merits, we have moved quickly and worked with IFDS to ensure we are able to offer
synergies to our clients that are common amongst the IFDS fund management companies."
Simon Hudson-Lund, Chief Operating Officer of IFDS, said:
"The decision by Investec to use eDistributor further demonstrates that our solution delivers the service and information needs that intermediaries and institutions require in todayâs market. We pride ourselves on delivering the highest standards of technology and service to our clients allowing them to set ever higher standards and be the market benchmark when it comes to intermediary servicing."