SS&C Technologies Holdings, Inc. (SSNC) announced a new phase in its long‑standing relationship with Fundsmith, extending its services to support the launch of the Fundsmith Equity ETF in the United States. The agreement gives SS&C full fund‑administration, accounting, compliance, legal and distribution support for the ETF, and adds trading and capital‑markets services through its ALPS Series Trust platform.
Fundsmith, founded in 2010, has grown to manage £24 billion in assets as of December 31 2025, up from £22.2 billion a year earlier. The company’s first U.S. ETF, the Fundsmith Equity ETF, began trading on December 2 2025. The partnership now spans 16 years, reflecting a deep, trusted relationship that has evolved from the firm’s first fund to a full‑suite U.S. ETF launch.
SS&C’s recurring‑revenue model remains a core driver of its growth. In the fourth quarter of 2024, SS&C reported GAAP revenue of $1.53 billion, up 8.4% from the same period a year earlier, and adjusted revenue of $1.53 billion, also up 8.4%. The company’s financial‑services recurring‑revenue segment grew 7.4% in that quarter, underscoring the stability of its software‑enabled services business. The new Fundsmith client adds a predictable, long‑term revenue stream that aligns with SS&C’s strategy of expanding its presence in the U.S. ETF market.
The U.S. ETF market has expanded at a compound annual growth rate of roughly 12% over the past five years, with assets under management surpassing $4.5 trillion. By adding a high‑profile, long‑term‑growth ETF to its portfolio, SS&C positions itself to capture a share of that growth and to cross‑sell its technology and services to other Fundsmith clients and new ETF issuers. The partnership also strengthens SS&C’s recurring‑revenue profile, which already accounts for a large portion of its total revenue.
Bill Stone, SS&C’s Chairman and CEO, said the expansion “demonstrates the depth of our partnership with Fundsmith and reinforces our commitment to delivering end‑to‑end solutions for ETF issuers.” He added that the company’s continued focus on strategic acquisitions and platform investments will enable it to serve a broader range of ETF structures and to maintain its competitive edge in the U.S. market.
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