Press Releases
SunGard Teams with iShares to Launch New Exchange-Traded Funds Retirement Plan Solution
July 28, 2009 — Wayne, PA
SunGard, in conjunction with
iShares, a leading global provider of exchange-traded funds (ETFs), will be launching a new solution to help advisors and third party administrators (TPAs) seamlessly incorporate ETFs as standard options in retirement plans. SunGard’s ETF solution offers a cost-effective and automated solution to help defined contribution plans add ETFs to their retirement plans, an otherwise traditionally expensive and operationally burdensome process.
TPAs and advisors using SunGard’s
Omni and
Relius recordkeeping platforms for benefit administration will be able to access and trade iShares ETFs through an integrated link to the
SunGard Transaction Network (STN). ETF custodial services will be provided by Mid Atlantic Trust Company’s ETFxChange platform.
While ETF trading has increased significantly over the last several years, the operational barriers of trading ETFs using mutual fund-driven recordkeeping systems has limited their growth in retirement plans. SunGard will help retirement plan providers that choose to invest in ETFs to do so efficiently using proven systems for mutual funds with enhanced processing specifically for ETFs. SunGard’s ETF solution, integrating STN Funds, Omni and Relius, will help TPAs and advisors trade and settle ETFs like no-load mutual funds. The new SunGard solution will help TPAs or their advisors to integrate both ETFs and mutual funds within 401(k), 457 or 403(b) retirement plans, while helping to minimize operational overhead and disruption.
Darek Wojnar, head of product strategy at iShares, said, “ETFs have continued to experience tremendous growth as investors seek alternative options to fund their retirement. SunGard’s ETF solution will help provide the trading support and operational efficiencies that TPAs and their advisors need to help clients better manage risk through portfolio diversification.”
Kevin Rafferty, president of SunGard’s
wealth management business, said, “ETFs are gaining momentum by infusing more transparency and performance into defined contribution plans and the personal investment management process. SunGard’s expertise in integrated trading, recordkeeping and administration will support ETFs within retirement plans, providing investors and their service providers with a broader set of investment options from iShares, a leader in this space.”
About iSharesiShares is one of the global product leaders in exchange traded funds (iShares® exchange traded funds) with over 360 funds globally across equities, fixed income and commodities, which trade on 18 exchanges worldwide. iShares' customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals. It is part of Barclays Global Investors, one of the world's largest asset managers and a leading global provider of investment management products and services with more than 3,000 institutional clients and US$1.5 trillion of assets under management as of December 31, 2008. BGI transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1979.
About SunGardSunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at
www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker
http://www.datamonitor.comSunGard Institutional Brokerage Inc. does not underwrite, issue, offer or engage in the solicitation of securities. This should not be construed as a solicitation or offer of iShares by SunGard, nor is it a recommendation for the purchase of ETFs within retirement plans.
STN Brokerage Services offered throughout the United States are provided by SunGard Institutional Brokerage Inc. * Member FINRA/SIPC * 377 E. Butterfield Rd., Suite 800 * Lombard, IL, USA 60148
Trademark Information: SunGard, the SunGard logo, Omni, Relius and STN are trademarks or registered trademarks of SunGard Data Systems, Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.