International Financial Data Services, the international transfer agency joint venture between US bankState Street and US technology firmDST Systems, has launched a new hosted fund management business called IFDS Managers.

The launch of IFDS Managers is a key step forward for the UK market, deploying IFDS’ market-leading administration, investor, advisor and distributor servicing infrastructure to a much wider audience, IFDS said.

David Moffat, group executive, Business Development said: "We are looking to invigorate the market place by delivering the same high levels of service that our existing customers receive to the hosted market space. We are particularly seeing significant demand for such hosted ACD services from independent financial advisors and other distribution organisations now looking to offer their own investment fund ranges."