SS&C acquires Iress’s managed fund admin business

SS&C Technologies has acquired the managed fund administration business (MFA) of Iress, a financial services technology company.

MFA is an Australian fund registry business with AUD900bn in managed assets across over 1400 funds, four custodians and 69 fund managers.

According to the company, the deal should complement SS&C’s current offering with outsourced unit registry capabilities for Australian fund managers

In a statement, SS&C said this acquisition is a bid to strengthen its position as a transfer agent, with 150 team members joining SS&C Global Investor & Distribution Solutions.

Bill Stone, chair and CEO of SS&C Technologies, said the acquisition would “elevate our global transfer agency capabilities” and added that the company’s mission is “to deliver the same high-quality processing and investor experience to our global clients wherever they conduct their business”.