EFM picks Marlborough for pensions administration
UK- Edinburgh Fund Managers (EFM) has appointed Marlborough Stirling, the software provider and consultant, to supply administration for its Edinburgh Portfolio Pension plans.
EFM says the appointment will enable it to concentrate on investment management. Marlborough Stirling will provide administration for the 20,000 policies, worth a combined £133m, for an initial period of three years.
Edinburgh inherited the policies when it bought Portfolio Fund Management last July and it will continue to manage the assets.
This deal takes Marlborough Stirling’s outsourcing business to approximately 1 million life and pension policies and the company expects the outsourcing business to contribute around 35 per cent of total group revenues this year.
Ken McKenna, IT director at Edinburgh Fund Managers, says: “Marlborough Stirling has a record of quality service and proven outsourcing experience in the UK financial services market.
“Their appointment will enable us to continue to offer a high quality service to our investors while allowing Edinburgh Fund Managers to focus on our core business activity of investment.”