London / Sydney, 17 January 2011 (ASX: BVA) – Bravura Solutions Limited (Bravura) – a leading global supplier of transfer agency and wealth management software applications and professional services, has agreed a new five year contract with Schroders Investment Management (Luxembourg) S.A. The agreement is to extend Schroders’ use of Bravura’s GFAS transfer agency platform to support its global operations.
The contract confirms GFAS as Schroders’ core transfer agency system, sitting at the heart of its Luxembourg and offshore fund services operations. Schroders was keen to extend its existing 11 year outsourcing partnership with Bravura as it expands the use of GFAS to support more of its international and alternative fund ranges.
This announcement also confirms GFAS’ reputation as one of Europe’s most widely used commercial transfer agency platforms. Today the platform services over US$ 550 billion of funds across 15 countries. Assets under administration have risen by 30 per cent in the last 12 months alone.
Gary Janaway, Head of Operations Schroders Fund Services Luxembourg said: “Our relationship with Bravura Solutions is essential to the continued success of our business. This has recently been demonstrated through the successful implementation of a number of straight-through-processing enhancements, as well as a new alternative investment suite. We very much look forward to further developing this key relationship over the coming years.”
Tony Klim, Chief Executive Officer EMEA of Bravura Solutions, said: “We are delighted that Schroders has decided to extend its contract with us. Over the past 11 years our teams have built a strong and dynamic partnership which we look forward to continuing to build on in the future.”