BISYS announced today that Maryland-based Mercantile Funds, Inc. (formerly the M.S.D.&T. Funds) has renewed and expanded its outsourcing agreement with the firm. BISYS will continue to support the proprietary fund family with a comprehensive outsourcing solution, including fund accounting and transfer agency services. Mercantile also elected to expand its outsourcing relationship with BISYS to include compliance services. BISYS has serviced the $2.6 billion fund family since 1993.
According to Cornelia McKenna, vice president and product manager for Mercantile, “BISYS has continually demonstrated its commitment to the success and growth of our funds with high quality service, the ongoing expansion and enhancement of its products and services, and its ability to support our unique business requirements with customized solutions.”
Bill Tomko, president of BISYS’ Investment Services group, said, “Mercantile is a very successful client and we are excited to have the opportunity to continue supporting and helping this fund family grow. At BISYS, we are strategically focused on providing the advancing technology, contemporary products and services, and levels of quality support that meet and hopefully exceed the expectations of each of our clients.”
BISYS also supports Mercantile Funds with regulatory services, which provide expert guidance on complex regulatory issues; and education services, which provide the training programs necessary to support virtually every compliance need and stage of career development for securities professionals.
Mercantile Funds is the proprietary fund family of Mercantile Bankshares Corporation.