BT outsources unit registry to SS&C

Westpac-owned BT has joined the growing list of investment managers outsourcing their administration arrangements.

US-based SS&C Technologies has announced that BT has signed a long-term agreement with SS&C Global Investor and Distribution Solutions (GIDS) for unit registry services.

It said SS&C’s Managed Fund Administration team will provide unit registry services to 88 BT-managed funds, including investor servicing and unit registry websites for digital account access and transactions.

SS&C noted that BT previously managed the unit registry and investor servicing for thes managed funds in-house.

“SS&C will focus on helping BT deliver improved digital access to investor information and automating processes to improve efficiency.

“We are excited to partner with BT. We have been working with BT teams to integrate the operating model and technologies to provide a market-leading experience from day one,” SS&C GIDS Australia head, Shaun McKenna said.

News of the BT outsource comes in the wake of Challenger last week announcing that it had outsourced its custody and admin to State Street.