BISYS, a global provider of business process outsourcing solutions for the financial services sector, today announced that London-based Janus International Ltd., a wholly owned subsidiary of Janus Capital Corporation, extended and expanded its outsourcing relationship with BISYS. This successful and growing relationship with Janus continues BISYS’ strategic European expansion.
Under the terms of the multiple-year contract extension, BISYS will continue to support the Janus World Funds Plc with a full complement of fund services. This fund family is Janus’ most successful offshore product with approximately $3.2 billion in assets currently under management. BISYS has serviced the World Funds since their launch in 1998.
In addition, Janus selected BISYS to service two new multi-class fund families launched in November 2001. The Janus Selection Fund is an Ireland-domiciled, open-ended unit trust for Japanese investors, and the Caymen Islands-registered Janus World Principal Protected Funds were launched primarily for investors seeking active principal protection.
BISYS’ Dublin-based operation will support the three international fund families with a comprehensive array of services, including fund administration, accounting, transfer agency, and compliance services. Service representatives fluent in seven languages, including Japanese, provide BISYS’ international shareholder services.
Richard Garland, chief executive officer of Janus International Ltd., said, “Based on BISYS’ proven ability to customize outsourcing solutions to meet our specific business objectives, Janus selected BISYS to continue supporting our World Funds and to service our two new fund families. BISYS associates consistently demonstrate their willingness and ability to develop innovative, creative solutions for our exact requirements. In fact, BISYS worked closely with our executives to design the new global funds and tailor the fund administration process. We consider our alliance with BISYS and its outsourcing services as strategic components in our growth goals for these three fund families.”
According to Bill Tomko, president of BISYS’ Investment Services group, “It is always gratifying when a valued client renews and expands its relationship and reliance on BISYS. But this growing relationship is even more rewarding given that Janus is one of the world’s largest asset managers. We look forward to supporting Janus and its aggressive business objectives with our next generation outsourcing solutions and our industry expertise.”
The Janus Selection fund family, which is distributed by Citibank for investors in Japan, consists of five feeder funds with approximately $150 million in assets currently under management. The World Principal Protected fund family, which is distributed by Merrill Lynch, Prudential, UBS PaineWebber, and Citibank primarily for investors who seek principal protection, consists of three funds with more than $140 million in assets currently under management.