Outsourcing giant
In all, 52 mutual funds handling $26 billion in assets will come under BISYSs tutelage, in what the companies are calling a "full-service mutual fund servicing solution."
Said Jeff Vogelbacker, Truscos managing director: "We selected BISYS to perform these mission-critical business functions based on its end-to-end mutual fund servicing solution, its value-added distribution solutions and its competitively distinct legal, regulatory, and compliance services." Fred Naddaff, head of BISYS, said the synergy between the two companies makes the relationship a perfect one.
The fund family BISYS will provide services for, the STI Classic family, will be switched to BISYS platforms by August 2004.
