UK - Invesco is "bucking the trend" by bringing all of its administration and client-servicing activities in-house.
And the fund manager believes a series of “major changes” to its business practice will leave it well placed to pick up business in the burgeoning DC market.
The firm – part of investment giant Amvescap – claims other fund managers “have got it wrong” in trying to cut costs by outsourcing administration and client-servicing activities.
Invesco has teamed up with software provider Aquila to develop its own customer service and administration platform.
Invesco chief executive officer David Butcher said: “Clearly, the trend in the industry is towards fund managers outsourcing their administration and client-servicing activities.
“We’re bucking that trend because we want to differentiate ourselves on service.”
Invesco is looking to bring its own administration service on-line in the autumn.
The firm is looking to introduce practices that are common in the US DC market, such as allowing scheme members full access to their funds via the internet or from “fully automated” call centres run by Invesco.
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