Several months after its buyout in July of CoreLink Resources, BISYS Group is introducing its first mutual fund wrap program. BISYS's brokerage services unit, created in the acquisition of CoreLink this summer, has teamed up with Standard & Poor's to create Portfolio Strategists. The new product is aimed primarily at banks, which BISYS officials say have been requesting such a wrap product to offer their customers.
Although BISYS was an original investor in CoreLink, it did not take a 100 percent stake until July. But informal discussions that eventually led to the deal with S&P began about nine months ago, according to BISYS Brokerage Services President Roger Loar.