Perennial Partners Selects SS&C for Unit Registry Services
- SS&C Technologies Holdings, Inc. secures a deal with Perennial Partners for unit registry services.
- SS&C's Managed Fund Administration unit to offer services for active ETFs, unlisted and dual-listed funds, and private equity.
- Perennial Partners aims to streamline unit registry services across all fund types for enhanced investor experience.
- SS&C's expertise in the Australian market enables consolidation of investor experience to a single platform.
- SS&C's services include transaction processing, AML/KYC, regulatory reporting, call center services, and the Digital 360 investor services suite.
- SS&C continues to expand its relationship with Perennial Partners to deliver tailored solutions and support for asset managers' growth.
- SS&C's recent acquisition of Iress' managed funds administration business boosts the team's MFA business with 68 clients and over AUD889 billion in funds under management.
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The expansion of SS&C Technologies' contract with Perennial Partners to include a wider range of unit registry services signifies a strategic consolidation for Perennial, aiming to enhance their operational efficiency. This move could potentially streamline Perennial's investor servicing processes, which may lead to cost savings and improved investor satisfaction in the long run. From a market research perspective, this partnership is indicative of a growing trend where asset managers are seeking to simplify their operations through integrated platforms. Such collaborations can also serve as a barometer for SS&C's competitive standing in the market, potentially influencing its market share and investor perceptions.
For investors in SS&C Technologies, this announcement is an indicator of the company's ability to upsell and expand services with existing clients, which is a positive sign for revenue growth and client retention. The inclusion of services like AML/KYC and regulatory reporting highlights the increasing importance of compliance solutions in the asset management industry. Investors should monitor the impact of this deal on SS&C's financials in subsequent quarters, particularly looking at the revenue contributions from the Managed Fund Administration unit and any operating margin improvements resulting from economies of scale.
The inclusion of AML/KYC services in the expanded partnership between SS&C and Perennial Partners underscores the heightened regulatory environment in which financial institutions operate. The ability of SS&C to offer such compliance-focused services is not only a value-add for Perennial but also a strategic advantage for SS&C in attracting other clients who are navigating the complexities of financial regulations. This aspect of the deal highlights the importance of legal and regulatory expertise in the financial services industry, where companies that can adeptly manage compliance issues are likely to gain a competitive edge.
"As we've grown, we have wanted to streamline unit registry / call centre services across all of our products listed Managed Funds, Unit Trusts and VCLP/Private Asset," said Suzanne Bentley, Head of Operations at Perennial. "SS&C's expansive expertise in the Australian market has enabled us to consolidate the investor experience to a single platform which will enhance the service experience for our advisers and clients."
Previously, SS&C serviced unlisted and dual-listed funds for Perennial Partners. After a thorough market evaluation process, Perennial expanded its mandate to include all fund types. SS&C's services will include transaction and distribution processing, AML/KYC, regulatory reporting, call center services and the Digital 360 investor services suite.
"We are honored to expand our valued relationship with Perennial Partners," said Nick Wright, global head of SS&C GIDS. "As a leading global transfer agent with local expertise, we are committed to delivering state-of-the-art tailored solutions and support to asset managers as they grow and evolve. We look forward to working with Perennial Partners to provide their investors and advisors with the best service experience."
SS&C provides market-leading software and service solutions to financial and retirement industries across the entire investment value chain, with more than 11 million accounts on its retirement administration platform in
About Perennial Partners
Perennial Partners is a house of specialist investment teams. We partner with outstanding investment people pursuing great investment outcomes in segments where active management can add meaningful value.
Our 'clients first' culture underpins everything we do.
At Perennial Partners we believe in true alignment, our business and investment partners are wholly owned by executives and we co-invest in our strategies alongside our clients and on the same terms. This means that we have true 'skin in the game', creating a powerful alignment of interests with our clients.
Learn more at more https://perennial.net.au/
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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