Invesco Perpetual is slashing up to 100 job roles at its head office in Henley-on-Thames as part of a move to outsource administration to International Financial Data Services (IFDS).

Implementation of a new record keeping and administration system means that the job roles of around a 100 people will hang in the balance from the latter half of 2012, although a consultation period is now underway.

The company is hopeful it will be able to relocate some staff elsewhere in the business over the coming 12 to 18 month transition period although some redundancies look inevitable.

IFDS has been picking up a number of high profile clients over the past year.

In October last year, What Investment exclusively revealed that Charles Stanley was ditching Capita Financial for its customer support and administration in favour of IFDS.

IFDS was awarded the mandate for the rebranded Matterley fund range following Charles Stanley’s review of investor service levels, and the switch is due to be this year.

IFDS has been picking up a number of management contracts recently as investment houses increasingly flock to the largest funds administrator in the sector, with around £220 billion of assets under management.