Royal London taps SS&C for Australia fund expansion

SS&C Technologies won a mandate from Royal London Asset Management to administer a new suite of Australian active funds. The deal further expanded a partnership between the two firms as they continue growing in Asia-Pacific.

Under the agreement, SS&C Global Investor & Distribution Solutions provided fund administration and unit registry services for four Australian funds. The range included Royal London Global Equity Diversified Fund, Royal London Global Equity Enhanced Fund, Royal London Global Equity Select Fund and Royal London Short Duration Global High Yield Bond Fund.

The funds were structured as unit trusts. They offered Australian investors indirect exposure to Royal London’s Dublin-domiciled UCITS range. In addition, the launch included around $614m ($1bn AUD) in assets under management. Equity Trustees acted as Responsible Entity.

The latest mandate also strengthened an existing relationship between the two companies. SS&C already administered around £72bn across Royal London’s UK fund range since the partnership started three years ago.

“We’ve been partnering with SS&C for the last three years in the UK with positive results,” said Ed Venner, chief client officer at Royal London Asset Management. “Their global scale and growing presence in Australia made them a natural choice.”

Meanwhile, SS&C continued expanding its Australian operations. The company recently appointed Chrys Wickremeratne as regional head of fund accounting. He brought more than 25 years of industry experience, including previous roles at HSBC.

“We are honoured RLAM entrusted us with their new Australian funds,” said Nick Wright, global head of SS&C Global Investor & Distribution Solutions.

SS&C, headquartered in Windsor, Connecticut, served more than 23,000 financial services and healthcare organisations globally. Royal London Asset Management, meanwhile, managed £199bn in assets and operated as part of Royal London, the UK’s largest mutual life, pensions and investment company.