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Article: Technology: Transfer agency - Getting fax straight.
- Article from:
- Financial Times Mandate
- Article date:
- September 1, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nat Mankelow
In the current environment of sliding investment values, the pressure is on for fund managers to drop the non-core parts of their back office for the sake of full-on asset gathering at the front end. This streamlining includes 'backwater' processes such as the remit of transfer agents, who are charged with taking care of investors' records such as voting habits at shareholder meetings, and processing originally by hand, but increasingly through automation hundreds of thousands of deals every week.
Though depending on fund and client type, about 80 per cent of Europe's institutional fund providers outsource their recordkeeping to ...