PFPC, a member of the PNC Financial Services Group, announced Wednesday that the F&C Claymore Preferred Securities Income Fund has selected the firm for its fund accounting and administration services.
Flaherty & Crumine, founded in 1983, specializes in the management of preferred securities and manages approximately $2.5 billion in preferred and related securities.
Claymore Securities serves as the funds shareholder service agent.
PFPC will also provide custody and transfer agency services for the newly diversified fund, as well as accounting and administration services, including financial accounting and recordkeeping, pricing and corporate actions, financial and regulatory reporting, tax services, compliance monitoring and Blue Sky Compliance.
Under the terms of the contract, PFPC will also supply the funds common shareholders with transfer agency services, including call center, quality assurance, transaction processing and work management.
"PFPC is excited to add a new dimension to our 12-year relationship with Flaherty & Crumine, one of the nations premier managers of preferred securities," said Stephen M. Wynne, CEO of PFPC.