American Funds Extends Strategic Partnership with SS&C

Rhea-AI Summary

SS&C Technologies (Nasdaq: SSNC) announced the extension of its transfer agency relationship with American Funds Service Company, part of Capital Group. This partnership, ongoing for 30 years, allows SS&C to provide comprehensive transfer agency solutions, enhancing digital tools and services. The collaboration aims to deliver a consistent experience for investors and advisors, incorporating SS&C's modernized Lyric platform for global recordkeeping. Capital Group manages over $2.6 trillion in assets, emphasizing a long-term investment focus.

Positive

• Extended 30-year partnership with American Funds Service Company enhances client trust.
• Use of SS&C's Lyric platform improves service delivery and integration for clients.

Negative

• None.

WINDSOR, Conn., Nov. 11, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that American Funds Service Company, a Capital Group company, has extended its transfer agency relationship with SS&C Global Investor and Distribution Solutions (GIDS).

SS&C GIDS provides a full range of transfer agency solutions, including core recordkeeping, a suite of investor and advisor-facing digital solutions and newly enhanced integration tools that offer flexibility to American Funds' specialized servicing models.  In addition, American Funds Service Group continues to be a valued client of defined contribution recordkeeping services provided by SS&C Retirement Solutions.

Rich Prior, President of American Funds Service Company at Capital Group, said, "After careful consideration, American Funds Service Company chose to extend its 30-year relationship with SS&C. Leveraging SS&C GIDS enables us to deliver a consistent, high-quality experience to our investors and advisors. In addition, we look forward to working with SS&C as a client partner on their Lyric initiative." SS&C Lyric is a modernized platform for global recordkeeping, designed to provide (or support) fully-integrated solutions to asset managers, financial advisors, broker-dealers and retirement providers. 

"We are pleased to continue our long and valued relationship with American Funds," said Nick Wright, Global Head of SS&C GIDS. "SS&C enables clients to seamlessly engage with their clients worldwide with advanced technology and high-touch services." 

About Capital Group

Celebrating its 90th anniversary in 2021, Capital Group, home of American Funds, has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. As of June 30, 2021, Capital Group manages more than $2.6 trillion in equity and fixed income assets for millions of individuals and institutional investors around the world.

Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

For more information, visit capitalgroup.com.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

SOURCE: SS&C

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is the significance of SS&C extending its partnership with American Funds?

The extension solidifies SS&C's long-term relationship with American Funds, enhancing investor services and digital solutions.

How long has SS&C been partnered with American Funds?

SS&C has been partnered with American Funds for 30 years.

What services does SS&C provide to American Funds?

SS&C provides transfer agency solutions, including core recordkeeping and digital services.

What is the SS&C Lyric platform mentioned in the press release?

The Lyric platform is a modernized solution for global recordkeeping designed to integrate various financial services.

How much does Capital Group manage in assets?

As of June 30, 2021, Capital Group manages over $2.6 trillion in equity and fixed income assets.