U.S. Bancorp Fund Services Launches Fourth Shared Trust
July 21 2011 - 4:00PM
Business Wire
U.S. Bancorp Fund Services, LLC launched its fourth Multiple
Series Trust (MST) for investment management firms to support their
mutual fund products. The fourth MST was effective as of May 26,
2011. The newest trust, called Managed Portfolio Series (MPS),
continues U.S. Bancorp Fund Services’ tradition and growth in the
shared trust market.
“We are excited to be able to expand our MST offering and
provide our clients with the highest level of products and services
necessary for them to be successful in this competitive landscape.
Our culture and work ethic drive us to deliver what it takes to
support each individual client from start-ups to mature fund
families,” said Joe Redwine, president of U.S. Bancorp Fund
Services. “This latest MST continues to showcase our ability to
provide best-in-class services to a wide variety of asset
managers.”
U.S. Bancorp Fund Services’ four shared trusts have $12.585
billion in mutual fund assets, 103 participating funds, 145
classes, and 56 different advisers, positioning them as a leader
and expert in offering shared trusts. U.S. Bancorp Fund Services is
among the first providers to offer shared trusts, and since 1992,
have grown to offer four separate shared trusts. “With extensive
experience in the multiple series trusts market and more than 40
years of mutual fund expertise, we have been able to offer our
clients solutions for successfully growing their portfolios in
today’s complex mutual fund environment. We expect this fourth MST
to follow the tradition of growth set by our other series trusts,”
said Jim Arnold, senior vice president, fund administration for
U.S. Bancorp Fund Services and president of the MPS trust. MPS
launched with three funds and $71 million in assets, with others
funds working to begin the registration process.
As part of the company’s MST family, the MPS trust dedicates a
primary point of contact to carry out clients’ service plans and
ensure a seamless service implementation for new launches, or
conversion for more mature funds. All MSTs at U.S. Bancorp Fund
Services include a dedicated Chief Compliance Officer (CCO) who
acts as a daily resource to the advisers’ CCOs and provides
assessment, guidance, and consulting regarding the adviser’s
responsibility for compliance in a mutual fund environment. The
model also includes a combination of in-house and external legal
and tax talent to give clients the ability to introduce products to
market quickly and economically. Expert mutual fund board members
act in a governance capacity and provide clients with sophisticated
insight into the market, investment industry and regulatory
issues.
“All of our MST’s allow advisers to capitalize on the strength
of their investment strategies and stay focused on raising and
managing assets while leveraging an incredibly efficient,
cost-effective, and compliance-centric back office structure,” said
Angie Pingel, vice president and counsel for U.S. Bancorp Fund
Services and secretary of the MPS trust responsible for its legal
services. “Our goal is to ensure clients are provided an
operational structure with customized services, financial
reporting, and complete support and industry guidance.”
About U.S. Bancorp Fund Services, LLC
Headquartered in Milwaukee since 1969, U.S. Bancorp Fund
Services, LLC currently provides services to more than 296 fund
families with 1,718 portfolios and 1,967 fund classes with $471
billion in client assets. U.S. Bancorp Fund Services' clients
include mutual funds, investment partnerships, hedge funds,
separately managed accounts, fund-of-funds, and offshore funds.
Visit U.S. Bancorp Fund Services at www.usbfs.com.
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